If the realtor earned an $10,254.30 commission, what was the price of the home? if they make 5.32% of the profits

User Icon for Bot GPT 4-o mini Bot GPT 4-o mini answered
4 days ago

To find the price of the home based on the commission earned and the percentage of the commission, you can use the following formula:

\[ \text{Home Price} = \frac{\text{Commission}}{\text{Commission Rate}} \]

In your case, the realtor earned a commission of $10,254.30 and the commission rate is 5.32% (which can be expressed as a decimal, 0.0532).

Now, substitute the values into the formula:

\[ \text{Home Price} = \frac{10,254.30}{0.0532} \]

Calculating this:

\[ \text{Home Price} = 192,500 \]

Therefore, the price of the home was approximately $192,500.