The monthly rent for the first house is $1,190, and the Bainters can expect it to increase 1.7% every year. The Bainters want to calculate their monthly rent over time.

What is an appropriate way to calculate the monthly rent over time?

Your answer should include

a specific strategy or model that you could use
an explanation of how you would use that model to solve the problem



Answer :

The appropriate way to calculate the monthly rent over time is 1190 × 1.017^n.

How to calculate the value?

From the information, it was stated that the monthly rent for the first house is $1,190, and the Bainters can expect it to increase 1.7% every year and that the Bainters want to calculate their monthly rent over time.

Therefore, the appropriate expression will be:

= 1190 × (1 + 1.7%)^n

where n = number of years

= 1190 × 1.017^n

Therefore, the appropriate way to calculate the monthly rent over time is 1190 × 1.017^n.

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