Real Estate Math
A Rhode Island property sold for $480,000. The seller's net after a 5% commission was how much?
A$440,000
B$456,000✓ Correct
C$460,000
D$464,000
Explanation
Commission: $480,000 x 0.05 = $24,000. Net = $480,000 - $24,000 = $456,000. To solve this, multiply the relevant values: $480,000 at 5%.. The correct answer is $456,000.. This is a common calculation on the Rhode Island real estate exam.
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