Real Estate Math
A property manager charges a 9% management fee on collected rents. If the property collects $18,500/month, the annual management fee is:
A$16,650
B$19,980✓ Correct
C$20,520
D$22,200
Explanation
Annual collected rent = $18,500 x 12 = $222,000. Management fee = $222,000 x 0.
Related North Carolina Real Estate Math Questions
- The NC excise tax on a deed for a property selling at $295,000 is:
- A buyer obtains a $240,000 mortgage at 6% annual interest. What is the first month's interest payment?
- A buyer in NC offers to purchase a property subject to a financing contingency of $260,000 at 6% for 30 years. If the appraised value comes in at $270,000 and the purchase price is $280,000, how much must the buyer pay above the appraised loan base?
- A North Carolina property sells for $460,000. The excise tax is $2 per $1,000. What is the total excise tax?
- A buyer finances $340,000 at 7% for 30 years. The monthly payment (P&I) using the factor of $6.65 per $1,000 financed is approximately:
- A NC investor pays $50,000 for a vacant lot and builds a house for $200,000. After selling for $295,000, the gross profit is:
- A NC landlord owns a 24-unit apartment complex. Average monthly rent is $950. If the vacancy rate is 8.33% (2 units vacant), the monthly effective gross income is approximately:
- A NC listing agent offers a 6% commission on a $499,000 property. The total commission is:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →