Real Estate Math
A Montana property manager charges 8% of collected rents. If monthly gross rents total $12,500, what is the monthly management fee?
A$800
B$1,000✓ Correct
C$1,250
D$1,500
Explanation
Management fee = $12,500 x 0.08 = $1,000 per month. To solve this, multiply the relevant values: $12,500, at 8%.. The correct answer is $1,000.. This is a common calculation on the Montana real estate exam.
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