Answer:To calculate the new monthly rent after a 10% increase, you can use the following formula:
New rent
=
Old rent
+
(
Old rent
×
Percentage increase
)
New rent=Old rent+(Old rent×Percentage increase)
In this case, the old rent is $700, and the percentage increase is 10%. Plug these values into the formula:
New rent
=
700
+
(
700
×
0.10
)
New rent=700+(700×0.10)
Calculate each step:
New rent
=
700
+
70
New rent=700+70
New rent
=
770
New rent=770
So, after a 10% increase, the new monthly rent would be $770.