Real Estate Math
A licensee earns a commission of $18,000 on a sale. If this represents 2.5% of the sale price, what was the sale price?
A$680,000
B$700,000
C$720,000✓ Correct
D$750,000
Explanation
Sale price = Commission ÷ Rate = $18,000 ÷ 0.025 = $720,000. To solve this, multiply the relevant values: $18,000 at 2.5%.. The correct answer is $720,000.. This is a common calculation on the Idaho real estate exam.
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