Real Estate Math
A Maine agent receives a total annual income of $85,000 from real estate. If all income came from 3% buyer's agent commissions, what is the total value of properties sold?
A$1,700,000
B$2,550,000
C$2,833,333✓ Correct
D$3,400,000
Explanation
Total value sold = $85,000 ÷ 0.03 = $2,833,333. To solve this, multiply the relevant values: $85,000 at 3%.. The correct answer is $2,833,333.. This is a common calculation on the Maine real estate exam.
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