A real estate broker sold your house for $189,000. The broker's commission was 4.5% of the selling price. How much would you get for the house after the commission is paid?
1 Answer
Mar 9, 2018
$180,495 is the take-home after the broker's commission.
Explanation:
To find out the remaining amount, you can multiply the total by the percentage that you would retain.
If the total sale price is 100%, and your broker took 4.5% that leaves you with 95.5%. Reforming that into decimals:
Now take that remaining decimal and multiply the 100% value by it to get the amount you retain: