An office building with an annual gross income of $70,175 sold for $800,000. What is the building's gross income multiplier?
a. 11.4
b. 1.147
c. .0877
d. 12
Answer: a. 11.4
Business
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Which type of loan requires interest only payments until maturity of the principal?
A) Blanket loan B) Amortized loan C) Term loan D) Partially amortized loan
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Of the following, which answer best expresses why it is crucially important, in a real estate transaction, to disclose who represents whom:
A: Because of the legal effect of such disclosure; B: Because of the professional and ethical responsibility to do so; C: Because of the doctrine of imputed notice; D: All of the above.
Business