Real Estate Math
A Nevada property manager earns 8% of monthly rents collected on a portfolio of 50 units, each renting at $1,400/month. What are the monthly management fees?
A$67,200✓ Correct
B$4,480
C$7,000
D$3,500
Explanation
Total monthly rents = 50 × $1,400 = $70,000. Management fee = $70,000 × 8% = $5,600 per month.
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