Assume You Bought Rental Property for $100,000

question 33

Multiple Choice

Assume you bought rental property for $100,000.Approximately how much would you have to charge in monthly rent to get a 9% rate of return?

• A)$1,000
• B)$900
• C)$750
• D)$600
• E)$450

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Definitions:

Principal

The initial amount of money deposited or loaned, before interest is added or charged.

Partial Sum

The sum of a portion of a sequence of terms. It is often used in reference to the sum of the first \( n \) terms of an infinite series.

Binomial Coefficient

A quantifier showing the number of ways to choose a given number of items out of a larger set, regardless of order.

Partial Sum

The sum of a specified number of terms at the beginning of a sequence.