Real Estate Math
A Louisiana broker manages three properties with monthly rents of $1,200, $1,450, and $1,800. The management fee is 9% of collected rents. Assuming 100% collection, what is the monthly management fee for all three properties combined?
A$400.50✓ Correct
B$418.50
C$388.50
D$450.00
Explanation
Total monthly rents = $1,200 + $1,450 + $1,800 = $4,450. Management fee = $4,450 × 9% = $400.
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