Real Estate Math
An Iowa property sells for $325,000. The commission rate is 6%, split equally between listing and buyer's broker. How much does each broker receive?
A$9,750✓ Correct
B$10,000
C$11,250
D$12,000
Explanation
Total commission = $325,000 × 6% = $19,500. Each broker receives $19,500 ÷ 2 = $9,750. To solve this, multiply the relevant values: $325,000 at 6%.. The correct answer is $9,750.. This is a common calculation on the Iowa real estate exam.
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