Real Estate Math
A Washington property management company earns 8% of collected rents. In January, they collected $48,000. What is January's management fee?
A$3,200
B$3,840✓ Correct
C$4,800
D$6,000
Explanation
Management fee = $48,000 × 8% = $3,840. To solve this, multiply the relevant values: $48,000 at 8%..
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