Real Estate Math
A North Dakota broker puts a property under management and collects $24,000 in annual rent. The owner pays a 6% management fee and $1,800 in maintenance. What does the owner net annually?
A$20,760✓ Correct
B$21,000
C$21,240
D$22,200
Explanation
Management fee = $24,000 × 6% = $1,440. Owner's net = $24,000 − $1,440 − $1,800 = $20,760.
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