Real Estate Math
A property manager charges 8% of collected rents. Monthly rent collected is $7,500. What is the monthly management fee?
A$450
B$550
C$600✓ Correct
D$650
Explanation
$7,500 x 8% = $600 monthly management fee. To solve this, multiply the relevant values: $7,500 at 8%.. The correct answer is $600.. This is a common calculation on the North Carolina real estate exam.
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