Calculate the yearly rent

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Question - Calculate the following - A building is rented for $945,000 per year for  10 years. Rent increases by 2% (compounded) every year. The broker who made the deal gets 6% annually for the total yearly rent for the first 5 years and 3% for the remaining five years. Calculate the yearly rent. How much will the broker make per year if he makes 6% in years 1-5 and 3 % in years 6-10?

Reference no: EM133187778

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