Given the following information, calculate the leasing agent's commission in dollar terms. Lease Term: 10 years, Monthly Rent: $5,000, Commission: 3%.
A) $1,500
B) $150
C) $1,800
D) $18,000

Question

Quizplus · Accepted Answer

The leasing agent's commission is calculated on the total lease value over the 10 years. The total lease value is $5,000 * 12 months * 10 years = $600,000. The commission is 3% of $600,000, which equals $18,000.

Given the Following Information, Calculate the Leasing Agent's Commission in Dollar