Real Estate Math
A property manager charges 8% of effective gross income as their fee. If EGI is $84,000, what is the management fee?
A$5,600
B$6,400
C$6,720✓ Correct
D$7,000
Explanation
Management fee = $84,000 × 8% = $6,720. To solve this, multiply the relevant values: $84,000, at 8%.. The correct answer is $6,720.. This is a common calculation on the Georgia real estate exam.
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