Question

A large apartment complex has 1,500 units, which are filling up at a rate of 10% per month. If the apartment complex starts with 15 occupied units, how many months will pass before the complex has 800 occupied units? (Assume logistic growth). Round to the nearest tenth.

Answer 1

The number of months before the complex would have 800 occupied units is 40 months.

How many months before the complex has 800 occupied units?

The formula that can be used to determine the required value is:

(In FV / PV) / r

Where:

• FV = 800
• PV = present occupancy rate = 15
• r = rate of filling up = 10%

(In 800 / 15) / 0.1 = 40 months

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