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A 100 Unit High-Rise Apartment Building Which Has No Vacancy

Question 157

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A 100 unit high-rise apartment building which has no vacancy has come under new management.The new management company wants to receive $101,500 in monthly rent.They estimate that for each $50 per month increase over the current $950 per month rent,there will be three vacancies with no possibility of filling them.What rent should they charge for each apartment?

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