Real Estate Math
A Maine property management company manages 20 properties. In one month, one property collects $1,800 in rent, four collect $1,200 each, and five collect $950 each. The management fee is 10% of total rent collected. The fee is:
A$917
B$1135.00✓ Correct
C$957
D$1,000
Explanation
Total rent = $1,800 + (4 × $1,200) + (5 × $950) = $1,800 + $4,800 + $4,750 = $11,350. Fee = $11,350 × 10% = $1,135. ()
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