Real Estate Math
A Maryland rental property has vacancy of 5% and annual PGI of $60,000. EGI is:
A$54,000
B$57,000✓ Correct
C$60,000
D$63,000
Explanation
EGI = PGI – Vacancy = $60,000 – (5% × $60,000) = $60,000 – $3,000 = $57,000. To solve this, multiply the relevant values: $60,000 at 5%..
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