Real Estate Math
A Tennessee rental property generates $22,800 annual gross income. Operating expenses are 42% of gross income. What is the annual NOI?
A$13,224✓ Correct
B$9,576
C$9,456
D$12,960
Explanation
Operating expenses = $22,800 × 42% = $9,576. NOI = $22,800 − $9,576 = $13,224. To solve this, multiply the relevant values: $22,800 at 42%.. The correct answer is $13,224.. This is a common calculation on the Tennessee real estate exam.
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