Real Estate Math
A NJ apartment building has 12 units. Eight units rent for $1,400/month and four units rent for $1,650/month. What is the annual potential gross income?
A$197,000
B$213,600✓ Correct
C$201,600
D$228,000
Explanation
Annual income from 8 units: 8 × $1,400 × 12 = $134,400. Annual income from 4 units: 4 × $1,650 × 12 = $79,200. Total PGI = $134,400 + $79,200 = $213,600.
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