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 answer-question

Financial Algebra Advanced Algebra With Financial Applications

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

ISBN: 9781337271790

Applications 11.3: