Real Estate Math
A Hawaii property listed at $950,000 sold for 95% of list price. The 5.5% commission was paid on the sale price. How much was the commission?
AA. $52,250
BB. $49,637.50✓ Correct
CC. $47,500
DD. $52,250
Explanation
Sale price = $950,000 × 0.95 = $902,500.
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