Real Estate Math
An Indiana broker recruits an agent on a 70/30 split. If the brokerage earns a 3% commission on a $480,000 sale, how much does the agent earn?
A$8,064
B$10,080✓ Correct
C$14,400
D$16,000
Explanation
Brokerage commission = 3% × $480,000 = $14,400. Agent's 70% = $14,400 × 0.70 = $10,080. To solve this, multiply the relevant values: $480,000 at 3%.. The correct answer is $10,080.. This is a common calculation on the Indiana real estate exam.
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