Real Estate Math
A property manager in Indiana manages 85 units at an average monthly rent of $1,100 with a 7% management fee. What is the monthly management fee?
A$5,950
B$6,083
C$6,545✓ Correct
D$7,000
Explanation
Total monthly rent = 85 × $1,100 = $93,500. Management fee = 7% × $93,500 = $6,545. The. To solve this, multiply the relevant values: $1,100 at 7%.. The correct answer is $6,545.. This is a common calculation on the Indiana real estate exam.
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