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1. You currently collect $613 a month in rent for an apartment that you lease. You expect rents to grow at 7.53% per year. If

1. You currently collect $613 a month in rent for an apartment that you lease. You expect rents to grow at 7.53% per year. If correct, how much will you charge in monthly rent in year 8?

2. You bought a property that had an NOI of $23,175, 10 years ago. The NOI has increased by 2.65% per year. What is the property worth today using a cap rate of 8.61%?

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