Final answer:
The real estate agency's commission from the sale of a house at $317,000 with a commission rate of 4.5% is $14,265. The agent's commission, being 30% of the agency's commission, is $4,279.50.
Step-by-step explanation:
To calculate the commission for both the real estate agency and the agent from the sale of a house at $317,000, we need to apply the given commission rates.
Agency's Commission
The real estate agency's commission rate is 4.5%. Therefore, the commission the agency gets is calculated by multiplying the sale price by the commission rate:
Agency Commission = Sale Price x (Agency Commission Rate / 100)
Agency Commission = $317,000 x (4.5 / 100)
Agency Commission = $14,265
Agent's Commission
The agent's commission rate is 30% of what the agency earns. To find the agent's commission, we use the formula:
Agent Commission = Agency Commission x (Agent's Commission Rate / 100)
Agent Commission = $14,265 x (30 / 100)
Agent Commission = $4,279.50
The real estate agency made $14,265 on the house, and the agent earned $4,279.50 in commission.