Question

Find the brokerage fee on a $3,280 sale if the
charge is 2.25% of the sale.

Answer 1

$73.80

Explanation:

Percentages allow us to find proportions of a value.

Converting Decimal

One way to find the fee is by using decimals. Any percentage can be changed into a decimal by moving the decimal point of the percentage 2 places to the left. This means that 2.25% becomes 0.0225. In this example, we moved the decimal point 2 digits over. Another way to convert percentages to decimals is by dividing by 100, 2.25/100 = 0.0225.

Finding Percentages

Now that we have the decimal, we can find the fee. To find a percentage of a number, multiply that number by the percent as a decimal. This means to find 2.25% of 3,280, we need to multiply 0.0225 * 3280.

• 0.0225 * 3280 = 73.8

The brokerage fee is $73.80.