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An apartment building has ten rental units that rent for $1,000 per month, for annual income of $120,000. If the asking price for the building

An apartment building has ten rental units that rent for $1,000 per month, for annual income of $120,000. If the asking price for the building is $1.5M, the implied interest rate is:

please explain what formula you use and what each variable is and means.

interpret results as well please

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