Real Estate Math
A Vermont property sold for $280,000. The seller agreed to pay a 5.5% commission. What is the total commission?
A$14,000
B$15,400✓ Correct
C$16,800
D$17,500
Explanation
Total commission = $280,000 × 0.055 = $15,400. This amount is typically split between the listing broker and the buyer's broker according to the listing agreement.
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