QuestionFind the 2014 annual rates for a flat with a 2.5% yearly increase, starting from \$5200 per quarter in 2008.

Studdy Solution
Calculate the annual rates in2014.
$$Annual\, rates\, (2014) = \$20800 \\times ( +.025)^{6} = \$23457.64$$Since the question asks for the answer to the nearest dollar, we can round this to $23458.
The owner should pay $23458 in annual rates in2014.