Real Estate Math
A New York broker earns a 5.5% commission on a $1,200,000 sale. What is the total commission?
A$60,000
B$66,000✓ Correct
C$72,000
D$76,000
Explanation
$1,200,000 x 0.055 = $66,000. To solve this, multiply the relevant values: $1,200,000 at 5.5%.. The correct answer is $66,000.. This is a common calculation on the New York real estate exam.
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