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Natalie just rented an apartment for $900 a month. She was told that the rent will increase 5.5% each year. About how much will her rent be in 7 years?

Respuesta :

theresaanderson
the equation you write to solve this should be:

x = 900 (1 + 0.055)^7

x = 900 (1.055)^7

x = 900 (1.454679131133794609375)

x = 1,309.21

*** Note that the answer was rounded to the nearest hundredths digit. ********
abiolataiwo2015

The amount that are rent will be is seven years is: $1,309.21

Rent amount in seven years

Using this formula

Amount=Principal(1+Interest rate)^Time

Let plug in the formula

Amount= 900 (1 + 0.055)^7

Amount= 900 (1.055)^7

Amount= 900 (1.454679131133794609375)

Amount= $1,309.21

Inconclusion the amount that are rent will be is seven years is: $1,309.21

Learn more about rent here:https://brainly.com/question/2281972

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