Real Estate Math
A broker's commission is 5.5% of the selling price. The property sold for $380,000. How much commission did the broker earn?
A$19,000
B$20,900✓ Correct
C$21,450
D$18,600
Explanation
Commission = $380,000 × 5.5% = $20,900. To solve this, multiply the relevant values: $380,000 at 5.5%.. The correct answer is $20,900.. This is a common calculation on the Indiana real estate exam.
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