Real Estate Math
A Wyoming ranch sells for $1,200,000. The broker charges a 5% commission. How much is the commission?
A$48,000
B$60,000✓ Correct
C$72,000
D$84,000
Explanation
Commission = $1,200,000 × 5% = $1,200,000 × 0.05 = $60,000.
Related Wyoming Real Estate Math Questions
- What is the assessed value of a Wyoming commercial property with a market value of $2,000,000 assessed at 11.5% of market value?
- A rectangular Wyoming ranch is 2 miles long and 1.5 miles wide. How many acres does it contain?
- A Wyoming buyer obtains a 30-year fixed mortgage for $175,000 at 6.5% annual interest. Using the factor of $6.32 per $1,000 borrowed, what is the approximate monthly principal and interest payment?
- A Wyoming buyer takes out a $200,000 mortgage at 7% annual interest. What is the first month's interest payment?
- A Wyoming broker wants to earn at least $8,500 on the listing side of a transaction. The property is expected to sell for $425,000 and the total commission is split 50/50 between listing and selling brokers. What minimum commission rate is required?
- A Wyoming property rents for $1,800/month. If the gross rent multiplier is 120, what is the estimated property value?
- A Wyoming property is listed at $299,000. It sells at 97% of the list price. What is the final sale price?
- A Wyoming buyer closes on October 1. Annual property taxes of $2,400 have not yet been paid for the year. Using a 365-day proration (buyer credited), how much does the seller owe the buyer at closing?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →