John sells a $2,015,000 home and receives a 2.5% commission. How much is Johns commission?
Do I have the problem set up right?
$2,015,000 * 0.975
No, .025*2,015,000 is the commission.
You wrote what the seller gets after commission.
Thank you so much!
To calculate John's commission, you need to multiply the selling price of the home by the commission rate.
So, in this case, you have the correct setup:
$2,015,000 * 0.025 = $50,375
Therefore, John's commission on the $2,015,000 home would be $50,375.