The manager of a 100 unit apartment complex knows from experience that all units will be occupied if the rent is $600 per month. a market survey suggests that, on average, one additional unit will remain vacant for each $10 increase in rent. what rent should the manager charge to maximize revenue?

Explanation:

The manager should charge $800 per month. At this level, there would be 80 occupants and the total rent would be 64,000. This is the highest revenue level. At 810, profits start to decrease.

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%