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1 year ago

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

Business

1 answer:

Ronch [10]1 year ago

3 0

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

<h3>What is commission?</h3>

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.

<h3>Calculation of net payment:</h3>

= 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

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