Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Real Estate Practice : Lesson 3960

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.

A. $68,000
Here's how:

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.
400000
times
0.05 or 5% of the gross monthly business over 800k
=
20000 which is 5% over the amount over 800k
4000 a month rent
times
12 months
=
48000 a year in rent
+
20000 percentage of the amount over 800k
=
68000 in annual rent
... more

__________________________________________________
Are you on The Rain? Grow Your Network!