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Liono4ka [1.6K]
2 years ago
15

shayla is financing a house for $126,750. She has to pay $450 plus 1.15% for a brokerage fee. How much are the mortgage brokerag

e fees?
Mathematics
1 answer:
ANEK [815]2 years ago
7 0
Answer: $1,907.63

Explanation:

It is stated in the problem that the brokerage fee is $450 plus 1.15% (meaning 1.15% of $126,750). Hence the brokerage fee is computed as follows
  
(Brokerage fee) = $450 + (1.15% of $126,750)
                          = $450 + (0.0115)($126,750) 
                          = $450 + $1,457.625
                          = $1,907.625

Since there is no half cents today, we round-off the brokerage fee to the nearest cent. Hence the brokerage fee is $1,907.63.

Note: In the computation of brokerage fee, we need to change 1.15% to  decimal.   
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