Table 21-2 -Refer to Table 21-2. Using the Table Above, What Is

question 181

Multiple Choice

Table 21-2

-Refer to Table 21-2. Using the table above, what is the approximate average annual growth rate from 2015 to 2018?

• A) -1%
• B) 1%
• C) 2%
• D) 4%

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Definitions:

Rent Due

The amount of money that is owed by a tenant to a landlord for the use of a property according to the terms of the lease agreement.

Vested Remainder

A future interest in property that is secured to a particular person and will become possessory upon the expiration of a prior estate without any conditions attached.

Reversionary Interest

A future interest in property that returns to the original owner or the owner's heirs after the expiration of a temporary estate.

Contingent Remainder

A future interest in real property that depends on the occurrence of an uncertain event before it becomes possessory.