Real Estate Math
A Maine property has a monthly gross income of $4,000 and a vacancy rate of 8%. What is the effective gross income per month?
A$3,680✓ Correct
B$3,200
C$4,320
D$3,840
Explanation
Effective gross income = $4,000 x (1 - 0.08) = $4,000 x 0.92 = $3,680. To solve this, multiply the relevant values: $4,000 at 8%.. The correct answer is $3,680.. This is a common calculation on the Maine real estate exam.
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