Real Estate Math
A Colorado broker earned $18,500 as their share of the commission on a sale. If the total commission was 5% and the broker received 55% of the total, what was the sale price?
AA. $672,727✓ Correct
BB. $673,454
CC. $645,000
DD. $654,545
Explanation
Total commission = $18,500 ÷ 0.55 = $33,636.36. Sale price = $33,636.36 ÷ 0.05 = $672,727. To solve this, multiply the relevant values: $18,500 at 5%.. The correct answer is A. $672,727.. This is a common calculation on the Colorado real estate exam.
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