Question

You have a three year fixed rate lease of $900/month due to expire next month. Your landlord is willing to renew the three year lease with a 3% total rent increase. What is your rent over the three year life of the new lease?

Answer 1

`\\3 percent of 900 = 27 \\900 + 27 = 927 \\ 927 * 36 = 33372`

Explanation:

First you have to find out the 3% of 900 (is 27)

then you add 27 to 900

then you multiply it by 3 years (36 months)

and your result is 33372 :)