Real Estate Math
A Maine buyer's agent earns $8,400 from a transaction. If this represents 3% of the sale price, what did the property sell for?
A$252,000
B$268,000
C$280,000✓ Correct
D$290,000
Explanation
Sale price = Commission ÷ Rate = $8,400 ÷ 0.03 = $280,000. To solve this, multiply the relevant values: $8,400 at 3%.. The correct answer is $280,000.. This is a common calculation on the Maine real estate exam.
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