# Raymond pays $1,000 per month in rent, and he is expecting a rent increase. His landlord agreed to a gradual increase according to the following plan:January, 0% increaseFebruary, 5% increaseMarch, 10% increase from JanuaryApril, 15% increase from JanuaryMay, 20% increase from JanuaryJune, 25% increase from January.Let matrix A be the matrix of 6 months of rent before the increase. A

Chapter 11, Applications 11.5 #6

Raymond pays $1,000 per month in rent, and he is expecting a rent increase. His landlord agreed to a gradual increase according to the following plan:

January, 0% increase

February, 5% increase

March, 10% increase from January

April, 15% increase from January

May, 20% increase from January

June, 25% increase from January.

Let matrix A be the matrix of 6 months of rent before the increase.

A = [1000 1000 1000 1000 1000 1000]

Let matrix B be the percent increase matrix with percent entries written as equivalent decimals.

Explain how AB will yield the total rent paid from January to June. What is that total?

**Related Book For**

## Financial Algebra Advanced Algebra With Financial Applications

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

ISBN: 9781337271790