I leased a storeroom to a business owner on a percentage basis.
The lease calls for a monimun monthly rental of $4000 per month and 5% of the gross monthly business over $800,000.
How much rent would I receive annually from the businessman if the businessman did a gross annual business of $1,200,000 ?
Take your time. The solution os posted below the wildlife photo.
Subtract 800,000 from 1.2 million to see that the businessman did a gross yearly business of 400,000 over the 1.2 million.
0.05 or 5% of the gross monthly business over 800k
20000 which is 5% ove the amount over 800k
4000 a month rent
48000 a year in rent
20000 percentage of the amount over 800k
68000 in annual rent