princess28391 princess28391

19-01-2024
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A retail property valued at $710,000 earns $4,650 per month. What is the annual percent of return?
a) 6.25%
b) 7.50%
c) 8.75%
d) 10.00%

Respuesta :

gengotshot gengotshot

19-01-2024

b. 7.50 %

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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