Real Estate Math
A NH investor buys a $425,000 building with a $100,000 renovation budget, then sells it for $575,000 after 18 months. What is the gross profit?
A$50,000✓ Correct
B$150,000
C$175,000
D$125,000
Explanation
Total investment = $425,000 + $100,000 = $525,000. Gross profit = $575,000 − $525,000 = $50,000. Using the values given ($425,000, $100,000), apply the appropriate formula.. The correct answer is $50,000.. This is a common calculation on the New Hampshire real estate exam.
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