Question

You are a real estate agent with ABC Real Estate company. You help sell a home for $155,000. The total commission is 6.5%. Your company is to receive 60% of the total commission; you will receive 65% of that amount. What is your personal share of the commission?

Answer 1

$3,929.25.

Explanation:

First, calculate the total commission. That's found by multiplying the selling price ($155,000) by 0.065. The result: The total commission is $10,075.

Your company receives 60% of that. So we multiply $10,075 by 0.60, obtaining $6,045.

Your share of the commission is 65% of that, so we multiply $6,045 by 0.65:

0.65($6,045) = $3,929.25.

Your personal share of the commission is thus $3,929.25.