Question

You rent an apartment that cost $1700 per month during the first year, but the rent is set to go up $110 per year. What would be the monthly rent during the 6th year of living in the apartment? Round to the nearest tenth(if necessary).

Answer 1

Answer: 123,060

So you multiply 1700 by 12 then add 110 then divide by 12 to see how much you would now pay a year, which would be 1709 (new monthly payment) then multiply that by six years 12 month's time 6 years = 72 months so multiply 1700 times 72 and you get 123060

Hope this is helpful.