Answer:
- agency: $14,535
- agent: $2907
Explanation:
You want to know the amount of commission earned by a real estate agency and the agent on the sale of a house for $323,000 if the agency earns 4.5% and the agent earns 20% of that.
Commission
The amount of commission is the product of the commission rate and the value of the sale. For the agency, the commission earned is ...
0.045 × $323,000 = $14535
The agency earned $14,535 on the sale.
The agent earned 20% of that amount, or ...
0.20 × $14,535 = $2907
The agent earned $2907 on the sale.
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