Question

Emmerson rented an apartment for $10,245.75 for the first year she lived in the apartment. Each year after that the price for the apartment increased by 1.25%. If she lived in the same apartment for 6 years, how much money did she pay in total to rent the apartment for all 6 years.

Answer 1

Answer:$63,427.88

Step-by-step explanation: First cost of rent = $10,245.75. If rents increase by 1.25%, rent for second year will be 1.25/100 x 10245.75 = 128.07 + 10245.75= 10373.82

Third year = 1.0125x 10373.82= 10503.49

Fourth year =1.0125x10503.49= 10634.78

Fifth year= 1.0125x10634.78= 10767.72

Sixth year = 1.0125 x10767.72= 10902.31

Total rent for six years = $63427.88