Real Estate Math
A Maine property manager charges 8% of monthly rent for management. The property has 6 units renting for $1,200 each per month. Monthly management fee is:
A$480
B$576✓ Correct
C$672
D$960
Explanation
Monthly gross rent = 6 × $1,200 = $7,200. Management fee = $7,200 × 8% = $576.
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