An office building rents for $40,000 the first year, then increases by 0.5% each year. use summation notation to represent the total payments for the first three years. explain your reasoning. marcus’s response is given below: if rent increases by 0.5% each year, the year’s rent is 1.005 times the previous year’s rent. so, an exponential expression can be used. the summation is 1.005 raised to the year times $40,000, where the years go from 0 to 3.