Real Estate Math

A Wisconsin broker charges a management fee of 8% of collected rent on a property that collects $3,600/month. The annual management fee is:

A$3,240

B$3,340

C$3,440

D$3,456✓ Correct

Explanation

Monthly management fee = $3,600 × 8% = $288. Annual fee = $288 × 12 = $3,456.

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