Real Estate Math
A Virginia agent sold 18 homes in a year at an average price of $340,000 with a 3% buyer's agent commission. What was the agent's gross commission income?
A$122,400
B$183,600✓ Correct
C$244,800
D$306,000
Explanation
Total sales volume = 18 × $340,000 = $6,120,000. Commission = $6,120,000 × 3% = $183,600. To solve this, multiply the relevant values: $340,000 at 3%.. The correct answer is $183,600.. This is a common calculation on the Virginia real estate exam.
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