Real Estate Math
A New Orleans condominium association collects $450 per month from each of 80 units. What is the annual budget?
A$360,000
B$432,000✓ Correct
C$504,000
D$540,000
Explanation
Annual budget = 80 units × $450/month × 12 months = $432,000. Using the values given ($450), apply the appropriate formula.. The correct answer is $432,000.. This is a common calculation on the Louisiana real estate exam.
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