Real Estate Math
A commercial property sold for $1,200,000 with a 4% commission. If the listing broker and cooperating broker split it 60/40, how much does the cooperating broker receive?
A$19,200✓ Correct
B$28,800
C$24,000
D$48,000
Explanation
Total commission = $1,200,000 × 4% = $48,000. Cooperating broker = $48,000 × 40% = $19,200. To solve this, multiply the relevant values: $1,200,000 at 4%.. The correct answer is $19,200.. This is a common calculation on the Indiana real estate exam.
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