you rent an apartment that costs $1600 per month during the first year ,but the rent is set to go up 11.5% per year.what would be rent of the apartment during the 10th year of living in the apartment? round to the nearest tenth (if necessary ).

To determine the rental value of the apartment in the tenth year, knowing that it is worth 1,600 during the first year but that it will be adjusted annually to 11.5%, the following calculation must be made:

X = 1,600 x (1 + 0.115) ^ 10

X = 4,751.91

Thus, at ten years, rounded to the nearest tenth, the rental value will be $ 4,750.

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abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2022-01-20T08:50:24+01:00

abiolataiwo2015 abiolataiwo2015

20-01-2022

The rent of the apartment during the 10th year of living in the apartment is 4,751.9.

Rent of the apartment:

Let x represent the rent of the apartment

Hence:

x= 1,600(1 + 0.115)^10

x=1,600(1.115)^10

x=4,751.9

Inconclusion the rent of the apartment during the 10th year of living in the apartment is 4,751.9.

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

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you rent an apartment that costs $1600 per month during the first year ,but the rent is set to go up 11.5% per year.what would be rent of the apartment during the 10th year of living in the apartment? round to the nearest tenth (if necessary ).​

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Rent of the apartment:

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you rent an apartment that costs $1600 per month during the first year ,but the rent is set to go up 11.5% per year.what would be rent of the apartment during the 10th year of living in the apartment? round to the nearest tenth (if necessary ).