Question

A property valued at $295,000 has a gross rent multiplier of 135. What is this property's monthly income? $2,458,$2,185,$2,525 OR $2,328??

Answer 1

Answer : $2,185

A property valued at $295,000 has a gross rent multiplier of 135

We know the formula for gross rent multiplier

Gross rent multiplier =
`(property value )/(Income)`

Property value = 295,000

gross rent multiplier = 135

Gross rent multiplier =
`(295000 )/(x)`

135 =
`(295000 )/(x)`

x = 2185.185185

property's monthly income= 2185

Answer 2

this is your formula:

`135 = (295000)/(x)`
solve for x and your answer is:

`x = 2185`