Real Estate Math
A broker charges a 6% commission on the sale of a $350,000 property. The listing broker splits the commission 50/50 with the buyer's broker. How much does each broker receive?
A$10,500✓ Correct
B$12,500
C$8,925
D$21,000
Explanation
Total commission = $350,000 × 0.06 = $21,000. Each broker receives $21,000 ÷ 2 = $10,500. To solve this, multiply the relevant values: $350,000 at 6%.. The correct answer is $10,500.. This is a common calculation on the South Dakota real estate exam.
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