Real Estate Math
A Connecticut broker sold 8 properties in a year with an average sale price of $485,000. The broker earned an average commission rate of 2.8% per side. What was the broker's total gross commission income?
A$108,640✓ Correct
B$217,280
C$136,960
D$95,480
Explanation
Total commission = 8 × $485,000 × 2.8% = 8 × $13,580 = $108,640.
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