Ask Question
9 November, 01:55

Linda Johnson, a broker, sold a home for $85,000. The home had been listed with another real estate firm for a 7% commission. The commission split between Johnson's principal broker and the other principal broker was 50/50. The commission split between Johnson and her principal broker was 65% to the broker, 35% to the principal broker. What was Johnson's commission from the sale of the home

+4
Answers (2)
  1. 9 November, 02:10
    0
    Linda's share was $ 1933.75

    Step-by-step explanation:

    We first need to calculate the comission that was paid to the other real state firm wich is 7% of the sales price, so we can use the following equation:

    Comission = 85000 * (7/100) = 85000*0.07 = 5950 $

    Since this comission was split in half between Johnson's broker and the other broker we have 5950/2 = 2975 for each of them. From that value 65% should stay with the broker wich is Linda in this case so:

    Linda's share = 2975 * (65/100) = 2975 * (0.65) = 1933.75 $.
  2. 9 November, 02:13
    0
    Given Information:

    Sale Amount = $85,000

    Commission rate = 7%

    Linda Johnson commission rate = 65% of 50% of commission amount

    Required Information:

    Linda Johnson share in the sale = ?

    Answer:

    Linda Johnson share in the sale = $1933.75

    Step-by-step explanation:

    Linda Johnson share in the sale is

    Linda's share = 65% of 50% of commission amount

    Where commission amount is

    commission amount = 7% of sale amount

    commission amount = 0.07*85,000

    commission amount = $5,950

    Linda's share = 0.65*0.50*5,950

    Linda's share = $1933.75
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Linda Johnson, a broker, sold a home for $85,000. The home had been listed with another real estate firm for a 7% commission. The ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers