The happy home realty cpmpany sold the parkers home for 178400. The commission rate was 6 1/4%. How much did the parkers receive from the sale of their home?
178,400 * 0.0625 = $________
now subtract that from the selling price.
Oops -- I need to read more carefully and finish the problem.
To find out how much the Parkers received from the sale of their home, we need to calculate the commission amount first and then subtract it from the sale price.
Step 1: Calculate the commission amount
Commission rate = 6 1/4% = 6.25%
Commission amount = (Commission rate / 100) * Sale price
Let's substitute the given values:
Commission amount = (6.25 / 100) * 178,400
Step 2: Calculate the Parkers' proceeds
Parkers' proceeds = Sale price - Commission amount
Using the values:
Parkers' proceeds = 178,400 - Commission amount
Now let's calculate the commission amount:
Commission amount = (6.25 / 100) * 178,400
Commission amount = (6.25/100) * 178,400
Commission amount = 11,150
Now we can calculate the Parkers' proceeds:
Parkers' proceeds = 178,400 - 11,150
Parkers' proceeds = 167,250
Therefore, the Parkers received $167,250 from the sale of their home.