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

Question

DiKsa [7]

2 years ago

15

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?

Mathematics

2 answers:

belka [17] · Answer 1 · 2022-04-04T01:51:34+03:00

belka [17]2 years ago

6 0

$1246.

<span>This is a guess, though.</span>

Cloud [144] · Answer 2 · 2022-04-04T04:16:55+03:00

Cloud [144]2 years ago

5 0

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. ********