Real Estate Math
A Louisiana agent received a commission of $8,750 representing 2.5% of the sale price. What was the property's sale price?
A$330,000
B$350,000✓ Correct
C$325,000
D$365,000
Explanation
Sale price = Commission ÷ Commission Rate = $8,750 ÷ 0.025 = $350,000. To solve this, multiply the relevant values: $8,750 at 2.5%.. The correct answer is $350,000.. This is a common calculation on the Louisiana real estate exam.
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