Real Estate Math
A 40-unit apartment complex has a potential gross income of $432,000 annually. At 95% occupancy, what is the effective gross income?
A$432,000
B$410,400✓ Correct
C$400,000
D$420,000
Explanation
Effective gross income = Potential gross income x occupancy rate = $432,000 x 0.95 = $410,400. To solve this, multiply the relevant values: $432,000 at 95%.. The correct answer is $410,400.. This is a common calculation on the Ohio real estate exam.
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