Real Estate Math
A salesperson and broker split commissions 55%/45% respectively. If the total commission on a $500,000 sale at 5.5% is split evenly between listing and selling brokerages, how much does the salesperson earn?
A$6,875
B$7,562.50✓ Correct
C$13,750
D$15,125
Explanation
Total commission = 5.5% × $500,000 = $27,500. Each brokerage = $27,500 ÷ 2 = $13,750. Salesperson's 55% = $13,750 × 0.55 = $7,562.50.
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