A realtor makes 5% commission on each sale.
Define the variables and write an equation to represent the relationship between the price of a home and the commission received.
lol i need help or at least an answer asap, im so confused
p = price
c = commission
c = 0.05 p
thank youu!
I understand that you're looking for help with defining variables and writing an equation to represent the relationship between the price of a home and the commission received by a realtor who makes a 5% commission on each sale.
Let's define the variables in this scenario:
P = Price of the home
C = Commission received by the realtor
Now, let's write an equation to represent the relationship between the price of the home and the commission received. We know that the realtor makes a 5% commission on each sale, so the commission amount is 5% of the price of the home.
To calculate the commission amount, we need to multiply the price of the home by 5% (which can be expressed as 0.05):
C = 0.05P
This equation states that the commission received (C) is equal to 5% (0.05) of the price of the home (P).
Remember, the commission is calculated by multiplying the price of the home by the commission rate (5%), which is equivalent to multiplying the price by 0.05.
I hope this explanation helps you understand the variables and equation for this scenario!