Real Estate Math
A North Dakota commercial lease is 5,000 square feet at $18 per square foot annually. The monthly rent is:
A$7,500✓ Correct
B$90,000 annually
C$6,000
D$9,000
Explanation
Annual rent = 5,000 sq ft × $18/sq ft = $90,000 per year. Monthly rent = $90,000 ÷ 12 = $7,500 per month.
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