You rent an apartment that costs \$800$800 per month during the first year, but the rent is set to go up 9.5% per year. What would be the rent of the apartment during the 9th year of living in the apartment? Round to the nearest tenth (if necessary).\
Pls help I'm dying here

For year 2, we must add the 9.5% increase in the monthly rent. In order to determine the 9.5%, simply multiply the monthly rent by 0.095 (the decimal equivalent of 9.5%), then add the product to the monthly rent in year 1 of $800.

9.5% increase for Year 2: $800 × 0.095 = $76

Monthly rent in Year 2: $800 + $76 = $876

Year 3:

For year 3, we must add the 9.5% increase in the monthly rent from Year 2 ($876).

9.5% increase for Year 3: $876 × 0.095 = $83.22

Monthly rent in Year 3: $876 + $83.22 = $959.22

Year 4:

For year 4, we must add the 9.5% increase in the monthly rent from Year 3 ($959.22).

9.5% increase for Year 4: $959.22 × 0.095 = $91.13

Monthly rent in Year 4: $959.22 + $91.13 = $1,050.35

Year 5:

For year 4, we must add the 9.5% increase in the monthly rent from Year 4 ($1,050.35).

9.5% increase for Year 5: $1,050.35 × 0.095 = $99.78

Monthly rent in Year 5: $1,050.35 + $99.78 = $1,150.13

Year 6:

9.5% increase for Year 6: $1,150.13 × 0.095 = $109.26

Monthly rent in Year 6: $1,150.13 + $109.26 = $1,259.39

Year 7:

9.5% increase for Year 7: $1,259.39 × 0.095 = $119.64

Monthly rent in Year 7: $1,259.39 + $119.64 = $1,379.03

Year 8:

9.5% increase for Year 8: $1,379.03 × 0.095 = $131.00

Monthly rent in Year 8: $1,379.03 + $131.00 = $1,510.04

Year 9:

9.5% increase for Year 9: $1,510.04 × 0.095 = $143.45

Monthly rent in Year 9: $1,510.04 + $143.45 = $1,653.50

Yearly Cost of Rent:

In order to determine the yearly cost of renting an apartment, simply multiply monthly rent by 12. In other words:

Year 1: $800 × 12 = $9600

Year 2: $876 × 12 = $10,512

Year 3: $959.22 × 12 = $11,510.64

Year 4: $1,050.35 × 12 = $12,604.15

Year 5: $1,150.13 × 12 = $13,801.55

Year 6: $1,259.39 × 12 = $15,112.69

Year 7: $1,379.03 × 12 = $16,548.40

Year 8: $1,510.04 × 12 = $18,120.50

Year 9: $1,653.50 × 12 = $19,841.94

Therefore, due to the 9.5% annual increase in rent, the monthly cost of an apartment during the 9th year is $1,653.5, or $19,841.9 (12-months' worth of rent).

You rent an apartment that costs \$800$800 per month during the first year, but the rent is set to go up 9.5% per year. What would be the rent of the apartment during the 9th year of living in the apartment? Round to the nearest tenth (if necessary).\Pls help I'm dying here

Respuesta :

Increase in the Monthly Cost of Rent

Year 1:

Year 2: