Real Estate Math
A buyer's agent receives 3% of the sale price on a $412,000 transaction. After splitting with the broker (70/30 split in the agent's favor), how much does the agent earn?
A$8,652✓ Correct
B$12,360
C$7,424
D$10,300
Explanation
Commission = $412,000 × 0.03 = $12,360. Agent's share (70%) = $12,360 × 0.70 = $8,652. To solve this, multiply the relevant values: $412,000 at 3%.. The correct answer is $8,652.. This is a common calculation on the Montana real estate exam.
Related Montana Real Estate Math Questions
- A Missoula property sold for $280,000. The listing broker receives 60% of a 5.5% commission. How much does the listing broker receive?
- A Montana broker charges a 6% commission on a property that sells for $325,000. What is the total commission?
- A Billings duplex generates $1,800/month per unit. Annual operating expenses total $12,000. What is the annual net operating income?
- A Montana lender charges 2 origination points on a $195,000 loan. What is the dollar amount of the origination fee?
- A Montana commercial property produces $120,000 NOI. A buyer wants a 9% return. What is the maximum purchase price they would pay?
- A Montana ranch sells for $840,000. The listing broker and buyer's broker split the 5% commission equally. If each brokerage then pays their agent a 60/40 split (agent gets 60%), how much does the buyer's agent receive?
- A Montana homeowner's property tax bill shows: Market Value $280,000, Assessment Rate 100%, Taxable Value $280,000, Mill Levy 145 mills. What is the annual tax?
- A Montana property owner borrows $50,000 against their home equity at 8% simple annual interest for 18 months. What is the total interest owed?
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →