Real Estate Math
A Louisiana property manager collected $28,000 in rents. After paying $3,200 for maintenance, $1,800 for insurance, and retaining an 8% management fee, how much is remitted to the owner?
A$20,760✓ Correct
B$21,260
C$22,760
D$19,760
Explanation
Management fee = $28,000 × 8% = $2,240. Total expenses = $3,200 + $1,800 + $2,240 = $7,240. Remitted to owner = $28,000 − $7,240 = $20,760.
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