Real Estate Math
A Vermont agent received a $15,600 commission on a transaction. If this represents 2.4% of the sale price, what was the sale price?
A$600,000
B$625,000
C$650,000✓ Correct
D$675,000
Explanation
Sale Price = Commission ÷ Commission Rate = $15,600 ÷ 0.024 = $650,000. To solve this, multiply the relevant values: $15,600 at 2.4%.. The correct answer is $650,000.. This is a common calculation on the Vermont real estate exam.
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