Real Estate Math
An investor pays $850,000 for a 10-unit apartment building in Salt Lake City. Each unit rents for $950/month. What is the annual gross income?
A$114,000✓ Correct
B$95,000
C$11,400
D$140,000
Explanation
Annual gross income = 10 × $950 × 12 = $114,000. Using the values given ($850,000, $950), apply the appropriate formula..
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