Real Estate Math
A Vermont property owner receives a lease offer of $22 per square foot per year for a 3,500 square foot commercial space. What is the monthly rent?
A$5,500
B$6,417✓ Correct
C$7,700
D$8,167
Explanation
Annual rent = 3,500 sq ft × $22/sq ft = $77,000. Monthly rent = $77,000 ÷ 12 = $6,416.67 ≈ $6,417. Using the values given ($22), apply the appropriate formula.. The correct answer is $6,417.. This is a common calculation on the Vermont real estate exam.
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