Real Estate Math
A property is listed at $550,000 and sells at 97% of the list price. The seller pays 5% commission on the actual sale price. What is the commission?
A$26,675✓ Correct
B$27,500
C$25,850
D$24,675
Explanation
Sale price = $550,000 × 97% = $533,500. Commission = $533,500 × 5% = $26,675. To solve this, multiply the relevant values: $550,000 at 97%.. The correct answer is $26,675.. This is a common calculation on the Massachusetts real estate exam.
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