Real Estate Math
A property's first year NOI is $50,000, growing by $2,000 each year. In Year 5, what is the NOI?
A$56,000
B$58,000✓ Correct
C$60,000
D$62,000
Explanation
Year 1: $50,000. Year 2: $52,000. Year 3: $54,000. Year 4: $56,000. Year 5: $58,000. Using the values given ($50,000,, $2,000), apply the appropriate formula.. The correct answer is $58,000.. This is a common calculation on the Idaho real estate exam.
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