Question

The brooks' paid-off property sold for $247,600. what will they net after paying a 7.5ommission to their broker?

Answer 1

They will pay net $229,030 after paying a 7.5% commission to their broker.

What is commission?

• Commissions are a type of variable-pay compensation for provided services or sold goods.
• Commissions are a typical method of encouraging and rewarding salespeople. It is also possible to create commissions to promote particular sales behaviors.
• For instance, when offering significant discounts, commissions might be decreased.
• When you buy, you normally pay a commission, and when you sell, you typically pay another commission. Investment commissions are not regarded by the IRS as a tax-deductible item.
• Instead, the commission is included in the cost basis of the investment, giving you a small tax break.

Calculation of net payment:

= 100% - 7.5%

= 92.5%

= $247,600 x 92.5%

= $229,030

Hence, they will pay net $229,030 after paying a 7.5% commission to their broker.

Learn more about commision here:

brainly.com/question/20987196

#SPJ4