Real Estate Math
An Iowa salesperson earned $15,600 on a transaction, which was 60% of the total commission. The property sold at a 6% commission rate. What was the sale price?
A$390,000
B$400,000
C$416,667
D$433,333✓ Correct
Explanation
Total commission = $15,600 ÷ 60% = $26,000. Sale price = $26,000 ÷ 6% = $433,333. Correction: $26,000 ÷ 0.06 = $433,333. The correct answer is $433,333.
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