Property Management
An Iowa landlord collects $2,400 rent per month on a residential duplex. The management fee is 9%. What is the monthly management fee?
A$192
B$204
C$216✓ Correct
D$228
Explanation
Management fee = $2,400 × 9% = $216. To solve this, multiply the relevant values: $2,400 at 9%.. The correct answer is $216.. This is a common calculation on the Iowa real estate exam.
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