Real Estate Math
An Arizona agent earns a 3% commission on the selling side of a $495,000 transaction and receives 60% of their side. What does the agent personally earn?
A$8,910✓ Correct
B$14,850
C$7,425
D$9,900
Explanation
Agent's side commission = $495,000 × 3% = $14,850. Agent's personal share = $14,850 × 60% = $8,910. To solve this, multiply the relevant values: $495,000 at 3%.. The correct answer is $8,910.. This is a common calculation on the Arizona real estate exam.
Related Arizona Real Estate Math Questions
- A buyer obtains a $300,000 mortgage at 5% annual interest. What is the first month's interest payment?
- A buyer in Arizona purchases a home for $420,000 with a 20% down payment. What is the amount of the buyer's mortgage loan?
- A seller wants to net $275,000 after paying a 6% commission. What must the property sell for?
- An Arizona homeowner borrows $85,000 for home improvements at 8% interest. What is the monthly interest in the first month?
- An Arizona property sold for $350,000. The total commission rate is 6%. The listing broker and buyer's broker split the commission 50/50. How much does each broker receive?
- A 1-acre lot sells for $87,120. What is the price per square foot? (1 acre = 43,560 sq ft)
- A property is assessed at 10% of its $420,000 market value. The tax rate is $8.50 per $100 of assessed value. What is the annual property tax?
- A buyer purchases a home for $310,000. The lender requires a 5% down payment. The buyer also pays 1.5 discount points. What is the total amount the buyer pays in points?
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →