29
QuizMultiple Choice

Real Estate Investments

Question 29 • 26-27 Ignite Technical Math-Financial Math - MA2007

Vincent owns an apartment building containing 15 rental units. Vincent pays $22,690 in taxes and building upkeep every year, and charges rent of $833 per month.Assuming that all of the rental units are full, how much does Vincent make from his apartment building every year?

Answer
A
$127,250
B
$149,940
C
$35,185
D
$102,260

Explanation

The 15 units bring in 15 × $833 = $12,495 in rent each month. Over 12 months, that is $12,495 × 12 = $149,940. Subtract the yearly $22,690 for taxes and upkeep: $149,940 − $22,690 = $127,250. Vincent makes $127,250 per year, choice A.

AI-written and checked against the verified answer.

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