Real Estate Math
If a Nevada property generates $5,000 per month in gross rent and has a monthly vacancy of 5%, what is the annual effective gross income?
A$57,000✓ Correct
B$60,000
C$54,000
D$56,700
Explanation
Annual gross = $5,000 x 12 = $60,000. Vacancy loss = 5% x $60,000 = $3,000. Effective gross income = $60,000 – $3,000 = $57,000.
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