Real Estate Math (alternative)
A Maryland property manager collects $6,500 in monthly rent and charges a 9% management fee. Monthly management fee is:
A$456.50
B$585✓ Correct
C$650
D$715
Explanation
Management fee = $6,500 × 9% = $585. To solve this, multiply the relevant values: $6,500 at 9%.. The correct answer is $585.. This is a common calculation on the Maryland real estate exam.
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