Real Estate Math
A South Dakota commercial lease has a base rent of $5,000/month plus 5% of gross sales over $100,000/month. If monthly sales are $150,000, what is the total monthly rent?
A$5,000
B$7,500✓ Correct
C$6,375
D$12,500
Explanation
Base rent = $5,000. Percentage rent = ($150,000 − $100,000) × 5% = $50,000 × 5% = $2,500. Total rent = $5,000 + $2,500 = $7,500.
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