Sunday
March 26, 2017

Post a New Question

Posted by on .

Rental cost for offices spaces have been going up at 6.2% per year compounded annually for
the past 5 years. If office space rent is now $32 per square foot per month, what were the
rental rates 5 years ago

  • math - ,

    Use the compound interest formula:
    Future = Present*(1+r)^n
    so
    32=Present(1.062)^5
    Solve for Present.

  • math - ,

    171.12

  • math - ,

    23.68

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question