Real Estate Math
A New Jersey property sells for $450,000. The seller pays a broker commission of 5%. What is the total commission?
A$20,000
B$22,500✓ Correct
C$25,000
D$27,500
Explanation
$450,000 × 0.05 = $22,500 total commission. To solve this, multiply the relevant values: $450,000 at 5%.. The correct answer is $22,500.. This is a common calculation on the New Jersey real estate exam.
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