Real Estate Math
A Massachusetts seller receives $47,500 as their commission from a $950,000 sale. What commission rate was charged?
A5%✓ Correct
B4.5%
C5.5%
D4%
Explanation
Commission rate = Commission ÷ Sale Price = $47,500 ÷ $950,000 = 0.05 = 5%. Using the values given ($47,500, $950,000), apply the appropriate formula.. The correct answer is 5%.. This is a common calculation on the Massachusetts real estate exam.
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