Real Estate Math
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$10,500✓ Correct
B$12,250
C$10,000
D$21,000
Explanation
Total commission = $350,000 × 6% = $21,000. Each broker receives $21,000 ÷ 2 = $10,500. To solve this, multiply the relevant values: $350,000 at 6%.. The correct answer is $10,500.. This is a common calculation on the Arizona real estate exam.
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