Real Estate Math
A Kansas agent closes 3 transactions per month at an average price of $220,000 with a 3% commission. Their broker splits are 60/40 (agent 60%). What is the agent's approximate annual income?
A$142,000
B$142,560✓ Correct
C$155,000
D$170,000
Explanation
Per transaction: $220,000 × 0.03 = $6,600. Agent keeps 60% = $3,960. Monthly income = 3 × $3,960 = $11,880. Annual = $11,880 × 12 = $142,560.
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