Real Estate Math
A Maine property's annual gross rent is $48,000 and the sale price is $480,000. The gross rent multiplier (GRM) is:
A8
B10✓ Correct
C12
D15
Explanation
GRM = Sale Price ÷ Annual Gross Rent = $480,000 ÷ $48,000 = 10. Using the values given ($48,000, $480,000), apply the appropriate formula..
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