Real Estate Math
A Mississippi property management trust account starts the month with $15,000. The manager receives $8,000 in rents, pays $3,500 in expenses, and disburses $9,000 to the owner. The ending balance should be:
A$10,500✓ Correct
B$11,500
C$12,000
D$10,000
Explanation
Ending balance = $15,000 + $8,000 − $3,500 − $9,000 = $10,500. Using the values given ($15,000, $8,000), apply the appropriate formula.. The correct answer is $10,500.. This is a common calculation on the Mississippi real estate exam.
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