Real Estate Math
A South Carolina property sold for $267,500 with a 5.5% total commission. How much did the broker on each side receive if commission was split equally?
A$7,356.25✓ Correct
B$7,456.25
C$7,556.25
D$8,025.00
Explanation
Total commission = $267,500 × 5.5% = $14,712.50. Each side = $14,712.50 ÷ 2 = $7,356.25. To solve this, multiply the relevant values: $267,500 at 5.5%.. The correct answer is $7,356.25.. This is a common calculation on the South Carolina real estate exam.
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