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

Question

Quizplus · Accepted Answer

The leasing agent's commission is calculated as 3% of the total rent over the lease term. The total rent is $5,000 per month for 10 years, which is $5,000 x 12 months x 10 years = $600,000. The commission is 3% of $600,000, which is $18,000.

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