Real Estate Math
An Indiana investor applies the 1% rule to a property: the monthly rent should be at least 1% of the purchase price. If the purchase price is $185,000, what is the minimum monthly rent under this rule?
A$1,500
B$1,850✓ Correct
C$2,000
D$2,150
Explanation
1% rule: Minimum monthly rent = 1% × $185,000 = $1,850. To solve this, multiply the relevant values: $185,000, at 1%..
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