Real Estate Math
An Indiana property has a list price of $315,000. It sold at 96% of list price. The total commission was 6% of the sale price. What was the commission paid?
A$18,144✓ Correct
B$18,900
C$19,200
D$20,000
Explanation
Sale price = $315,000 × 0.96 = $302,400. Commission = $302,400 × 0.06 = $18,144. To solve this, multiply the relevant values: $315,000 at 96%.. The correct answer is $18,144.. This is a common calculation on the Indiana real estate exam.
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