Real Estate Math
A commercial property in Anchorage sold for $1,200,000. The commission rate was 5%. The listing broker retained 60% and paid the buyer's broker 40%. How much did the buyer's broker receive?
A$24,000✓ Correct
B$28,800
C$36,000
D$48,000
Explanation
Total commission = $1,200,000 × 5% = $60,000. Buyer's broker share = $60,000 × 40% = $24,000.
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