Real Estate Math
A Florida broker charges 7% commission on the first $100,000 of a sale and 3% on any amount over $100,000. If the property sells for $250,000, what is the total commission?
A$11,500✓ Correct
B$17,500
C$10,500
D$13,000
Explanation
Commission = ($100,000 × 7%) + ($150,000 × 3%) = $7,000 + $4,500 = $11,500. To solve this, multiply the relevant values: $100,000 and $100,000 at 7%..
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