Real Estate Math
A property sold for $412,500. The seller agreed to pay a 5.5% commission. The listing broker and buyer's broker split the commission 50/50. What does each broker receive?
A$10,312.50
B$11,343.75✓ Correct
C$22,687.50
D$9,500
Explanation
Total commission = $412,500 x 5.5% = $22,687.
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