Question

The rent for an apartment is $6600 per year and increases at a rate of 4% each year. Find the rent of the

apartment after 5 years. Round your answer to the nearest penny.

Answer 1

the answer is 7721.

Explanation:

ok there is a lot of steps but will work them out

6600*.04=264

264+6600=6864

6864*.04=274.56

274.56+6864=7138.56

7138.56*.04=285.5424

285.5424+7138.56=7424.1024

7424.1024*.04=296.964096

296.964096+7424.1024=7721.066496