How is 1.03 written as a percent?
1 answer:
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<u>Answer: </u>
The price to rent ratio calculated is 13.6.
<u>Explanation: </u>
As per the stated question,
the house in florida was priced at $155,000 and
the rent that was comparable houses was $950 per month.
The house rent for a year can be calculated as 950 x 12 = 11400
Henceforth, the formulae for price to rent ratio was given as
=
therefore the price to rent ratio is 13.6