1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sladkaya [172]
1 year ago
7

a broker sold a property that was owned by a bank that had acquired it through foreclosure, and the broker received a 6.5% commi

ssion. the broker gave the listing sales associate $3,575, which was 30% of the firm's commission. what was the selling price of the property?
Business
1 answer:
jek_recluse [69]1 year ago
7 0

The approximate selling price of the property is equal to $183,333.

<h3>What is a formula for calculating the selling price?</h3>

The formula for calculating the selling price may be represented as follows:

  • Selling Price = <em>Cost Price</em> +<em> Profit Margin</em>.

According to the question,

  • Find the firm's full commission which is as follows:

$3,575 amount to a salesperson = 30% × Full commission:

$3,575 amount to a salesperson ÷ 30% = $ 11,916.67 full commission.

  • Find the selling price using the full commission and the rate:

$ 11,916.67 full commission ÷ 6.5% brokerage rate = $183,333.

Therefore, the approximate selling price of the property is equal to $183,333.

To learn more about the Selling price, refer to the link:

brainly.com/question/1153322

#SPJ4

You might be interested in
A balance is _____.
SpyIntel [72]
The amount of money you have in your account
4 0
3 years ago
Read 2 more answers
Consider the following accounting terms and definitions and match each term to the definition: Accounting a. an economic resourc
spayn [35]
<h2><u>Answer:  </u></h2>

<u>Accounting</u>:

The basic tool of accounting, stated as asset=liabilities + equity (e)  

<u>Asset:</u>

An economic resource that is expected to be of benefit in the future (a)

<u>Balance sheet:</u>

Reports on an entity’s assets, liabilities, and stockholders’ equity as of a specific date (I)

<u>Expense:</u>

Decreases in equity that occur in the course of selling goods/services (f)

<u>Income statement:</u>

Reports on an entity’s revenues, expenses, and net income or loss for the period (j)

<u>Liability:</u>

Debts that are owed to creditors (b)

<u>Net income:</u>

Excess of total revenues over total expense (d)

<u>Net loss:</u>

Excess of total expense over total revenues (c)  

<u>Revenue:</u>

Increase in equity that occur in the course of selling goods/services (g)

<u>Statement of cash flow:</u>

Reports on a business’s cash receipts and cash payments during a period (h)

<u>Statement of retrained earning:</u>

Reports how the company’s retained earnings balance changes from the beginning to the end of the period (k)


8 0
3 years ago
Read 2 more answers
True Taste's Restaurant and Catering serves delicious vegetarian and vegan dishes. So, when the local community became intereste
levacccp [35]
This would be D- an opportunity for True Taste to thrive in their community.
6 0
3 years ago
Amari and his four best friends decided they would save up and get tickets to see their favorite basketball team play in a nearb
lina2011 [118]
B) mid term goal I would think
7 0
2 years ago
3. State the difference between limited liability and unlimited liability?​
Crank

Answer:

Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.

Explanation:

3 0
2 years ago
Other questions:
  • Benny asked his marketing team to research and collect data regarding the demographics of people residing in the state of Califo
    13·1 answer
  • At the beginning of the month, Bobcat Boards and Skis received $800 in advance for future services to be performed. At the end o
    13·1 answer
  • Kara and simon are both middle managers at gotcha international. kara is dissatisfied because she knows that simon makes more in
    8·1 answer
  • Gina changes the amount of milk she purchases depending on whether it costs $1,$1.50, or $1.75 a pound. What other information d
    15·1 answer
  • A nation's productivity is directly affected by what?
    5·1 answer
  • Social responsibility is the conscious effort to operate in a manner that creates a win-win situation for _______.
    6·1 answer
  • Angela has an annual contract with Stenbach Service Centre to provide property maintenance services; this includes lawn care, sn
    11·1 answer
  • PLEASE HURRY!!! I WILL GIVE BRAINLIEST!!!
    14·1 answer
  • Mariota Corp. just paid a dividend of $4.30 per share on its stock. The dividend growth rate is expected to be 3.2 forever and i
    9·1 answer
  • Capitalization of interest is adding accrued
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!