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 ).

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

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.

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$4,750.

Step-by-step explanation:

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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