Real Estate Math
A South Carolina commercial tenant leases 2,500 sq ft at $20/sq ft/yr. What is the monthly rent?
A$3,750
B$4,167✓ Correct
C$4,500
D$5,000
Explanation
Annual rent = 2,500 × $20 = $50,000. Monthly rent = $50,000 ÷ 12 = $4,166.67 ≈ $4,167. Using the values given ($20), apply the appropriate formula.. The correct answer is $4,167.. This is a common calculation on the South Carolina real estate exam.
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