Real Estate Math
A broker earns a 5.5% commission on a Maryland property that sold for $525,000. The listing agent receives 45% of the broker's total commission. How much does the listing agent earn?
A$12,983.75✓ Correct
B$14,437.50
C$25,875.00
D$28,875.00
Explanation
Total commission = $525,000 × 0.055 = $28,875. Listing agent's share = $28,875 × 0.45 = $12,993.75.75 (rounding); calculated: $28,875 × 0.45 = $12,993.75.
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