Real Estate Math

A Wisconsin property manager collects $12,500/month in rents and charges a 7% management fee. What is the annual management fee?

A$8,750

B$10,500✓ Correct

C$12,600

D$14,700

Explanation

Monthly fee = $12,500 × 7% = $875. Annual fee = $875 × 12 = $10,500.

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