Real Estate Math
A South Carolina listing agent receives 3% on a $415,000 sale. What is the listing side commission?
A$10,375
B$11,250
C$12,450✓ Correct
D$12,500
Explanation
Commission = $415,000 × 3% = $415,000 × 0.03 = $12,450. To solve this, multiply the relevant values: $415,000 at 3%.. The correct answer is $12,450.. This is a common calculation on the South Carolina real estate exam.
Related South Carolina Real Estate Math Questions
- A South Carolina buyer obtains a $260,000 loan at 7% interest. What is the first month's interest payment?
- A South Carolina agent's annual income goal is $90,000. If the average commission per transaction is $4,500, how many transactions must they close per year?
- A South Carolina agent earns 2.4% on the purchase side of a $375,000 transaction. What is the commission?
- A South Carolina buyer makes a 20% down payment on a $310,000 home. What is their loan amount?
- A buyer in South Carolina gets a mortgage of $285,000 at 6.25% for 30 years. What is the approximate monthly interest for the first payment?
- A property in Charleston sells for $485,000. What is the South Carolina deed recording fee owed at closing?
- A South Carolina property's NOI is $42,000 per year. If the cap rate is 7%, what is the property's value?
- A South Carolina investor buys a property for $400,000, makes $50,000 in improvements, and sells for $520,000 with 5% selling costs. What is the net profit?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →