Natalie just rented an apartment for $900 a month. She was told that the rent will increase 5.5% each year. About how much will
her rent be in 7 years?
2 answers:
$1246.
<span>This is a guess, though.</span>
The equation you write to solve this should be:
x = 900 (1 + 0.055)^7
x = 900 (1.055)^7
x = 900 (1.454679131133794609375)
x = 1,309.21
*** Note that the answer was rounded to the nearest hundredths digit. ********
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