A 2,500 SF property is advertised at $18 per square foot. What is the tenant's monthly rent payment?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $9.99Unlock all

Prepare for the Arizona Real Estate License Exam with our comprehensive quiz. Test your knowledge with challenging questions and detailed explanations. Enhance your confidence and get ready for success!

Multiple Choice

A 2,500 SF property is advertised at $18 per square foot. What is the tenant's monthly rent payment?

Explanation:
To find the tenant's monthly rent payment, we first calculate the annual rent based on the advertised price per square foot and the total square footage of the property. 1. Determine the annual rent: Multiply the total square footage (2,500 SF) by the cost per square foot ($18). 2,500 SF × $18/SF = $45,000 per year. 2. Convert the annual rent to a monthly rent: To do this, divide the annual rent by 12 months. $45,000 ÷ 12 = $3,750. Thus, the tenant's monthly rent payment is correctly calculated as $3,750.

To find the tenant's monthly rent payment, we first calculate the annual rent based on the advertised price per square foot and the total square footage of the property.

  1. Determine the annual rent:

Multiply the total square footage (2,500 SF) by the cost per square foot ($18).

2,500 SF × $18/SF = $45,000 per year.

  1. Convert the annual rent to a monthly rent:

To do this, divide the annual rent by 12 months.

$45,000 ÷ 12 = $3,750.

Thus, the tenant's monthly rent payment is correctly calculated as $3,750.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy