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Kohls leases 100,000 sq. ft. in the Fashion Mall at $10 per sq. ft. It also pays an overage of 1.5% above a breakpoint in
Kohls leases 100,000 sq. ft. in the Fashion Mall at $10 per sq. ft. It also pays an overage of 1.5% above a breakpoint in sales of $42 million. If sales are $42 million in year one and increase 5% per year, what is the total rent paid in year five?
(A) $1,030,000 (B) $1,129,303 (C) $1,000,000 (D) $1,135,769
A borrower takes out a 30-year amortized mortgage loan for $395,000 with an interest rate of 5%. What would the annual payment be?
(A) $2,120 (B) $24,157 (C)$18,750 (D) $25,445
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