Real Estate Math
An Alaska property manager collects $8,400 in monthly rents and charges a 7% management fee plus a 50% leasing fee on first month's rent for one new tenant paying $1,200/month. What are the total fees this month?
A$588
B$1,188✓ Correct
C$1,488
D$2,688
Explanation
Management fee = $8,400 × 7% = $588. Leasing fee = $1,200 × 50% = $600.
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