Real Estate Math
An Iowa property sold for $412,000. The commission was 5.5%. How much total commission was paid?
A$21,000
B$22,660✓ Correct
C$23,720
D$24,400
Explanation
Commission = $412,000 × 5.5% = $22,660. To solve this, multiply the relevant values: $412,000 at 5.5%.. The correct answer is $22,660.. This is a common calculation on the Iowa real estate exam.
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