Question

you rent an apartment that costs $1,800 per month during the first year, but the rent is set to go up $100 per year. what would be the monthly rent in the 5th year?

Explanation:

Step1: Determine the number of years rent increases

From the 1st to the 5th year, the number of years the rent has increased is \(5 - 1=4\) years.

Step2: Calculate the total increase in rent

The rent increases by \(\$100\) per year, so for 4 years, the total increase is \(4\times\$100 = \$400\).

Step3: Find the monthly rent in the 5th year

The initial monthly rent is \(\$1800\), so the monthly rent in the 5th year is \(\$1800+\$400=\$2200\).

Answer:

\(\$2200\)