Real Estate Math
A Michigan home sells for $320,000. The listing agent and buyer's agent split the 5% commission equally. How much does each agent's brokerage receive?
A$8,000✓ Correct
B$16,000
C$9,600
D$6,400
Explanation
Total commission = $320,000 x 0.05 = $16,000. Split equally = $8,000 to each brokerage. To solve this, multiply the relevant values: $320,000 at 5%.. The correct answer is $8,000.. This is a common calculation on the Michigan real estate exam.
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