Real Estate Math
A Wisconsin apartment complex has 20 units at $900/month each. The vacancy rate is 6%. What is the effective gross income (EGI)?
A$202,320✓ Correct
B$203,040
C$204,480
D$216,000
Explanation
Gross potential income = 20 × $900 × 12 = $216,000. Vacancy = $216,000 × 6% = $12,960. EGI = $216,000 - $12,960 = $203,040. Closest: $202,320 is incorrect; actual answer is $203,040.
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