Question

Bo bought a house 7 years ago $400000. He sells it $440000. The real estate charges are an eight percent commission on the selling price of the house Calculate bo's income from this investment.

Answer 1

he bought $400,000

he sells $440,000

on these 440,000 he pays a commission of 8% =(440,000*8)/100=$35200

he collected $440,000-35,200=$404,800

profit: 4+$404800-400000= $4800