An agent received 35% share of 3% gross commission. The salesperson received $4,500. What did the property sell for?
Correct Answer
B) $428,571.33
Agent's share = 35% of 3% = 1.05% of sale price. $4,500 = 0.0105 × Price. Price = $4,500 ÷ 0.0105 = $428,571.43
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