Question

You find an apartment which charges 925 a month rent. each year the rent increases by 6% a. write a sequence that represents the rent paid each year for the first 5 years.

Answer 1

In the first 5 years, 138,750$ worth of rent will already have been paid.

Explanation:

Since you have to pay 925$ a month worth of rent, in only 1 year, 5,550$ rent money will already have been payed. Now, multiply 925 x 5 x 30 = 138,750. Since the rent increases by 6% every year, in the first 5 years it would have already increased to 30%. So therefore, you would have to pay 138,750$ money worth of rent.