Real Estate Math
A Louisiana property manager charges 8% of gross collected rents. In one month, rents collected total $22,500. What is the management fee?
A$1,400
B$1,800✓ Correct
C$2,250
D$1,600
Explanation
Management fee = $22,500 × 8% = $1,800. To solve this, multiply the relevant values: $22,500 at 8%.. The correct answer is $1,800.. This is a common calculation on the Louisiana real estate exam.
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