Real Estate Math
A Rhode Island property manager charges a 10% management fee on a property with monthly gross rents of $8,500. What is the monthly management fee?
A$750
B$850✓ Correct
C$900
D$1,000
Explanation
$8,500 x 0.10 = $850. To solve this, multiply the relevant values: $8,500 at 10%.. The correct answer is $850.. This is a common calculation on the Rhode Island real estate exam.
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