Real Estate Math
A Missouri apartment building has 10 units renting at $850/month. Annual vacancy is 5%. What is the annual effective gross income?
A$96,900✓ Correct
B$97,200
C$102,000
D$101,000
Explanation
Annual gross rent = 10 × $850 × 12 = $102,000. Vacancy loss = $102,000 × 5% = $5,100. EGI = $102,000 − $5,100 = $96,900.
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