Real Estate Math
A Pennsylvania tenant pays $1,500/month rent. The landlord increases rent by 8%. What is the new monthly rent?
A$1,580
B$1,600
C$1,620✓ Correct
D$1,650
Explanation
New rent = Current rent × (1 + increase rate) = $1,500 × 1.08 = $1,620. Understanding percentage increase calculations is essential for property management, lease negotiations, and investment analysis.
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