ealexandernyc ealexandernyc

19-04-2018
Mathematics

contestada

A retail property valued at $710,000 earns $4,650 per month. What is the annual percent of return? 0.9%? 9.8%? 11.1%? 7.9%?

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sqdancefan sqdancefan

20-04-2018

Annual return is 12*$4650 = $55,800.

The rate of return is the ratio of the return to the amount invested.

$55,800/$710,000 * 100% = 7.859%
≈ 7.9%

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