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uestion 5 of 5, Step 1 of 1 real estate agent works on a \( 9 \% \) commission. What is her commission on a house that she sold for \( \$ 417,700 \) ? Follow the problem-solving process and round your answer to the nearest cent, if necessary. How to enter your answer (opens in new window)

Ask by Thornton Matthews. in the United States
Mar 15,2025

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Answer

The real estate agent's commission on the house is \$37,593.00.

Solution

**Step 1:** Write the commission rate as a decimal. The commission rate is \(9\%\), which is \[ 0.09. \] **Step 2:** Calculate the commission by multiplying the selling price by the commission rate. The selling price of the house is \(\$417{,}700\). So, the commission is calculated as \[ 0.09 \times 417{,}700. \] **Step 3:** Perform the multiplication. \[ 0.09 \times 417{,}700 = 37{,}593. \] **Step 4:** Express the commission in dollars and cents. The agent's commission is \(\$37{,}593.00\).

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The Deep Dive

To find the commission, you simply multiply the sale price by the commission rate. So, for a house sold at $417,700, the calculation would be \( 417,700 \times 0.09 \). This results in a commission of \( 37,593 \). Thus, the real estate agent earns a commission of $37,593.00! When calculating commissions, a common mistake is forgetting to convert percentage rates into decimals. Always remember that to find 9%, you must divide it by 100, giving you 0.09. This small step can make or break your calculations!

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