A property manager oversees a 20-unit apartment complex. Each unit rents for $1,200 per month. The management fee is 8% of collected rent. If all 20 units are occupied and paying rent, what is the manager's monthly fee?
Correct Answer
D) $1,920
Total collected rent = 20 x $1,200 = $24,000. Management fee = $24,000 x 8% = $1,920.
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