Real Estate Math
A Mississippi commercial property generates $7,500 in monthly rent. The annual gross rent multiplier (GRM) is 9. The estimated value is:
A$810,000✓ Correct
B$67,500
C$900,000
D$750,000
Explanation
Annual rent = $7,500 × 12 = $90,000. Value = Annual GRM × Annual Rent = 9 × $90,000 = $810,000.
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