Real Estate Math
A property manager charges 8% of collected rents. In a month where gross rents are $12,500 and 2 units are vacant ($1,200 total vacancy), what is the management fee?
A$912✓ Correct
B$928
C$1,000
D$1,040
Explanation
Collected rents = $12,500 − $1,200 = $11,300. Management fee = $11,300 × 8% = $904.
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