FinancingCoop_financing_share_loansEASY
A cooperative building has 2,400 total shares outstanding and monthly maintenance expenses of $96,000. If Thomas owns 80 shares, what is his monthly maintenance fee?
Correct Answer
B) $3,200
Monthly maintenance per share = $96,000 ÷ 2,400 shares = $40 per share. Thomas's fee = 80 shares × $40 = $3,200. Maintenance fees are allocated proportionally based on share ownership.
Answer Options
A
$2,800B
$3,200C
$3,600D
$4,000Why This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Financing Question
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Background Knowledge for Financing
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Related Topics & Key Terms
Key Terms:
maintenance_feesshare_allocationmonthly_expensesproportional_assessment
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