A retail space was leased for $1,200 per month; the owner also pays the shopping center 8% of gross income which is $50,000 monthly. how much does the owner pay annually?

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Business

Melanie Harrison

17 February, 23:18

A retail space was leased for $1,200 per month; the owner also pays the shopping center 8% of gross income which is $50,000 monthly. how much does the owner pay annually?

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Leah Martinez · Answer 1

First, figure out the annual rent price, which is $1,200 * 12 = $14,400. Then multiply $50,000 * 12 = $600,000 gross income a year * 8% for the commission amount of $48,000. Then add $48,000 and $14,400 together to get the annual rent with the commission that is due of $62,400.