Question

If the seller's broker in a transaction earned a commission of $18,250, what was the final sales price of the property, assuming he/she earned a commission rate of 6%...?

Answer 1

$304,167

Step-by-step explanation:

The seller's broker earned a commission of $18,250 in a transaction

The commission rate is 6%

= 6/100

= 0.06

Let y represent the final sales price of the property

Therefore, the final sales price of the property can be calculated as follows

0.06y= $18,250

y= $18,250/0.06

y= 304,167

Hence the final sales price of the property is $304,167