Real Estate Math
A Hawaii condominium complex has 50 units. Each unit owner's pro-rata share of common expenses is based on their percentage of the total project. If total annual expenses are $600,000 and Unit A owns 2% of the project, what is Unit A's annual assessment?
AA. $10,000
BB. $12,000✓ Correct
CC. $11,000
DD. $9,000
Explanation
Unit A's assessment = $600,000 × 0.02 = $12,000 annually. To solve this, multiply the relevant values: $600,000 at 2%.. The correct answer is B. $12,000.. This is a common calculation on the Hawaii real estate exam.
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