Real Estate Math
A Nebraska property manager handles a building where monthly rental income is $28,500. They charge a 7.5% management fee and also receive a leasing fee of $500 per new lease signed. In a month where 3 new leases are signed, total compensation is:
A$3,637.50✓ Correct
B$3,500.00
C$2,637.50
D$4,000.00
Explanation
Management fee = $28,500 × 7.5% = $2,137.
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