Question

Mr. Smith's house was listed at $325,000. The property eventually sold for $365,000. The agreed upon commission was 5%. How much did Mr. Smith pay in commissions at the closing of the property...

Answer 1

Amount of commission = $18,250

Step-by-step explanation:

Given:

Listed price = $325,000

Sales price = $365,000

Commission rate = 5%

Find:

Amount of commission

Computation:

Amount of commission = Sales price x Commission rate

Amount of commission = $365,000 x 5%

Amount of commission = $18,250