Real Estate Math
A Louisiana property manager charges 10% of gross collected rents plus a $500 monthly administrative fee. In a month where $35,000 is collected, what is the total management fee?
A$4,000✓ Correct
B$3,400
C$4,600
D$3,500
Explanation
Management fee = ($35,000 × 10%) + $500 = $3,500 + $500 = $4,000. To solve this, multiply the relevant values: $500 and $35,000 at 10%..
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