7.	A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in

7. A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in

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 1.      A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in the third year. Using a 10 percent discount rate, what is the effective rent over the three years?

 

(a)  $20.00

(b)  $20.94

(c)  $21.00

(d)  $21.73

(e)   $22.00
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