New Questions (1 Viewer)

[davohan123]

A real estate agent charges a commission of

2.25% for every dollar up to and including $200 000
1.75% for every dollar over $200 000 up to and including $500 000
1.55% for every dollar over $500 000

q1.If you sell your apartment with this real estate agent for $265 000 what commission will the real estate agent receive ?

q2.If you sell your apartment with this real estate agent for $594 000 what commission will the real estate agent receive ?

q3. If the real estate agent earns $16000 from a sale, how much did the agent sell the house for ?

Thank you again for your time very much appreciated

 

[AnandDNA]

1. (200000*2.25%)+(65000*1.75%)
2. (200000*2.25%)+(300000*1.75%)+(94000*1.55%)

3. (200000*2.25%)+(30000*1.75%)=9750

16000-9750=6250

so 6250 is the amoiunt he got commision for for every dollar over 500000

6250/1.55%=403225.8065.....

500000+403225.8065.....=903225.8065....

So the house was sold for $903225.8065...

 

[study-freak]

http://community.boredofstudies.org/232/accounting/207642/questions-i-need-answered.html#post4273080
I already answered before.