Real Estate Math
An agent earns $9,500 on a transaction. If this represents a 2.5% commission, what was the sale price?
A$350,000
B$380,000✓ Correct
C$400,000
D$475,000
Explanation
Sale price = Commission / Rate = $9,500 / 0.025 = $380,000. To solve this, multiply the relevant values: $9,500 at 2.5%.. The correct answer is $380,000.. This is a common calculation on the Utah real estate exam.
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