Question
A realtor makes 5.32% commission on each sale If the realtor earned an $10,254.30 commission, what was the price of the home?(1 point) p = $
Answers
GPT-4o mini
To find the price of the home, we can use the formula:
\[
\text{Commission} = \text{Price} \times \text{Commission Rate}
\]
We know the commission earned is $10,254.30 and the commission rate is 5.32%, which we can express as a decimal (5.32% = 0.0532).
We can rearrange the formula to solve for the price:
\[
\text{Price} = \frac{\text{Commission}}{\text{Commission Rate}}
\]
Substituting the known values:
\[
\text{Price} = \frac{10,254.30}{0.0532}
\]
Now, let's calculate:
\[
\text{Price} = 192,460.00
\]
Therefore, the price of the home is:
\[
p = 192,460.00
\]
\[
\text{Commission} = \text{Price} \times \text{Commission Rate}
\]
We know the commission earned is $10,254.30 and the commission rate is 5.32%, which we can express as a decimal (5.32% = 0.0532).
We can rearrange the formula to solve for the price:
\[
\text{Price} = \frac{\text{Commission}}{\text{Commission Rate}}
\]
Substituting the known values:
\[
\text{Price} = \frac{10,254.30}{0.0532}
\]
Now, let's calculate:
\[
\text{Price} = 192,460.00
\]
Therefore, the price of the home is:
\[
p = 192,460.00
\]