Real Estate Math
A Kansas property manager charges 8% of monthly rent as a management fee. Monthly rent is $1,400. What is the monthly management fee?
A$98
B$112✓ Correct
C$140
D$168
Explanation
$1,400 × 0.08 = $112 monthly management fee. To solve this, multiply the relevant values: $1,400 at 8%.. The correct answer is $112.. This is a common calculation on the Kansas real estate exam.
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