Real Estate Math
A South Dakota salesperson's annual income from commissions is $72,000. They receive 55% of the commission on each transaction. The average sale price is $250,000 with a 5.5% commission. How many transactions did they complete?
A8
B9
C10✓ Correct
D12
Explanation
Commission per transaction = $250,000 × 5.5% × 55% = $13,750 × 55% = $7,562.
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