1. The monthly rent for Theeben's apartment is $625. His landlord tells him that next year, the monthly rent will increase by 6%. a) Calculate Theeben's new monthly rent using Method 1. b) Calculate Theeben's new monthly rent using Method 2. c) Which method do you prefer to use? Why?

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section: Chapter Questions
Problem 16AA
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1. The monthly rent for Theeben's apartment is $625. His
landlord tells him that next year, the monthly rent will
increase by 6%.
a) Calculate Theeben's new monthly rent using Method 1.
b) Calculate Theeben's new monthly rent using Method 2.
c) Which method do you prefer to use? Why?
Transcribed Image Text:1. The monthly rent for Theeben's apartment is $625. His landlord tells him that next year, the monthly rent will increase by 6%. a) Calculate Theeben's new monthly rent using Method 1. b) Calculate Theeben's new monthly rent using Method 2. c) Which method do you prefer to use? Why?
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