Real Estate Math
A Texas real estate broker's office had total commission income of $480,000 in one year. The broker pays 60% to agents and retains 40%. How much did the broker retain?
A$192,000✓ Correct
B$288,000
C$96,000
D$240,000
Explanation
Broker retains 40% of $480,000 = $480,000 × 0.40 = $192,000. The agents collectively received $480,000 × 60% = $288,000. The broker's 40% covers overhead, office expenses, and the broker's personal income.
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