Real Estate Math
A Louisiana investor can get an 8% return on a $380,000 purchase price. What is the minimum annual NOI needed?
A$28,500
B$30,400✓ Correct
C$34,200
D$38,000
Explanation
Required NOI = Purchase Price × Desired Return = $380,000 × 8% = $30,400. To solve this, multiply the relevant values: $380,000 at 8%.. The correct answer is $30,400.. This is a common calculation on the Louisiana real estate exam.
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