Question

At a real estate agency, an agent sold a house for $357,000. The commission rate is 4.5% for thereal estate agency and the commission rate for the agent is 25% of the amount the real estateagency gets. How much did the agency make on the house? How much did the agent earn incommission?v

Answer 1

The real estate agency makes $16,065 from the sale of the house, and the agent earns a commission of $4,016.25.

Step-by-step explanation:

To calculate the commission for the real estate agency and the agent from the sale of a house for $357,000 with a commission rate of 4.5% for the agency, and the agent's commission being 25% of the agency's commission, we first find the total commission for the agency:

$357,000 × 4.5% = $16,065

This is the amount the real estate agency earns before paying the agent. Now we calculate the agent's portion:

$16,065 × 25% = $4,016.25

So, the real estate agency makes $16,065 on the house, and the agent earns $4,016.25 in commission.