A property manager receives half of the first month's rent when he leases an apartment and an additional 5% of each month's rent thereafter for collecting the rent of 850 dollars a month.
How much is his total commission after 18 months ?
A. $1147.50
The first month is 850 divided by two which equals 425 dollars for the first month.
The next seventeen months are 5% of 850 times 17
5% of 850 is $42.50 and 17 times $42.50 is $722.50.
$722.50 plus $425 equals $1147.50
