Real Estate Math
A Pennsylvania property has a gross rent multiplier (GRM) of 140 and sells for $350,000. What is the monthly gross rent?
A$2,000
B$2,500✓ Correct
C$3,000
D$4,900
Explanation
Monthly Rent = Sale Price ÷ GRM = $350,000 ÷ 140 = $2,500. The GRM formula can be rearranged to solve for any variable: Value = GRM × Monthly Rent; GRM = Value ÷ Monthly Rent; Monthly Rent = Value ÷ GRM.
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