Real Estate Math
A Virginia agent sold $8.5 million in real estate last year at an average 2.75% commission (their side). What was their gross commission income?
A$213,750
B$233,750✓ Correct
C$253,750
D$312,500
Explanation
GCI = $8,500,000 × 2.75% = $233,750.0275 = $233,750. To solve this, multiply the relevant values: $8.5 at 2.75%.. The correct answer is $233,750.. This is a common calculation on the Virginia real estate exam.
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