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James Neal James Neal
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2 years ago
(FYI: Real Estate Course Problem) A retail business has a percentage lease based on 5% of gross income of up to $25,000 per month and 21/2% of gross income above that amount. The minimum to be paid is $1000 per month. For a month in which the business has a gross income of $47,000, what will be the rent payment? (Answer: $1,800) Please advise me a step by step breakdown how to do?
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bio_manbio_man
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2 years ago
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James N. Author
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#2
2 years ago
Your breakdown is great, I completely understand it now! Thank you very much..
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