Question

Jim has hired a real estate broker to help facilitate the sale of his home. If the broker requires a commission of 6%, how much will Jim clear from the sale (after the commission has been paid) if he is able to sell his house for $478,723? (Assume that Jim has already paid off his mortgage.)

Answer 1

Jim will receive 449,999.62

Step-by-step explanation:

We are going to discount the sales commission from the proceeds of the home, this will be the net cash received from Jim

sales price 478,723

commission 6% of 478,723 = 39723.38

net realizable 449,999.62

(sales price - commisions)