Real Estate Math
A property has a gross annual income of $84,000 and a GRM of 10. What is the estimated property value?
A$840,000✓ Correct
B$8,400
C$1,050,000
D$700,000
Explanation
Value = GRM × Annual Gross Income = 10 × $84,000 = $840,000. Using the values given ($84,000), apply the appropriate formula..
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