Havel signed a listing agreement with a real estate agent. The commission rate is 4% on the first $200,000 of the selling price, and 2.5% on the remainder. a) What commission will Havel pay if he sells his home for $289,000? b) What is the average commission rate on the selling price?

Havel signed a listing agreement with a real estate agent. The commission rate is 4% on the first $200,000 of the selling price, and 2.5% on the remainder. a) What commission will Havel pay if he sells his home for $289,000? b) What is the average commission rate on the selling price?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: 2) Jordan's salary is $1250 per month plus a 5% commission on all his sales. What must the amount of…

A: Jordan's each month salary is 1250 dollars and earns 5% commission on all his sales. We need to find…

Q: 3. If a listing salesperson's commission is $2,610, and that amount represents 30% of the employing…

A: Assume the sale price of the property be $x

Q: The manager of Brass Antiques has determined that a markup rate of 27% is necessary for a profit to…

A: We will find out the required value.

Q: A stockbroker's commission on a transaction is 2.5% of the first $5,000 of the transaction amount…

A: We are given that a stockbroker's commission on a transaction is 2.5% for the first $ 5000 of the…

Q: adjusted gross income.

A: Given: The salary =$ 27,000 The amount of dividends =$ 2,800 Formula used: Adjusted Gross…

Q: A mattress is discounted from $149 to $59. What trade discount rate does the retailer receive?"

Q: Each pay period, Rashida's taxable income is $600.82. If her federal income tax rate is 10%, then…

A: In each pat period, the taxable income is $600.82.

Q: Tamara has the option of borrowing $990 for two weeks at an APR of 300% or borrowing the $990 for…

A: 1) if she borrow at an APR of 300% Interest=990×300100=2970 for a yearfor 2 weeks…

Q: 24.) After selling a house for $98,700, a real estate agent split 4% of the sale equally with…

A: For this first we have to calculate the 4% of total sold amount and then we have to split it into…

Q: Find the commission for the following sales and earnings. (c). sales: $4,935; earnings: $444.15 (d).…

A: Given sales and earning we have to find commission percentage as shown below

Q: 4. What would your total cost be on a pair of earrings that cost $364 pre-tax, if the tax was 8%?

Q: Tony earns $32,500 a year. His work offers him two options for a raise: An 8% raise, OR a $2,000…

A: Given: Tony earns $32,500 a year. His work offers him two options for a raise: An 8% raise, OR a…

Q: f a woman making $33,000 a year receives a cost-of-living increase of 2.5%, what will her new salary…

Q: Suppose you owned 2,000 shares of stock in Procter and Gamble. You purchased the shares at a price…

A: The term percent means for every hundred. A fraction whose denominator is 100 is called a…

Q: If you are selling your house with a local realtor who requires a 3% commission fee what can you…

Q: What is the tax bill for a contractor if his shop has an assessed valuation of $75,000, and the tax…

Q: If a car priced at $17,305 is offered for nothing down with 60 monthly payments of $397.63, what is…

A: Given Information - Cost of the car = $17,305 Monthly payments to clear the debt = $397.63 Number…

Q: Each pay period, Rashida's taxable income is $600.60. If her federal income tax rate is 11%, then…

A: Given, taxable income=$600.60 tax rate=11% how much money does she pay each pay period in federal…

Q: The Hilton Resort in South Carolina offers a 3-day accommodation at a promotion price of C$316. If…

Q: A family purchased a washer for $496. If they paid 25% down and agreed to pay the remainder in…

Q: What is my gross margin (also called gross profit) AND gross margin percentage (%) if I sell a bag…

A: Gross margin (profit) = (Revenue - cost of goods sold)/Revenue Or = (Sale price - COGS)/ COGS…

Q: i took my cub scout troup to the state park. we rented fishing poeles for 20 scouts at $8.00 each.…

A: Given, Number of scouts = 20 So, number of fishing poles = 20 Cost of each fishing poles = $8 So,…

Question

100%

Havel signed a listing agreement with a real estate agent. The commission rate is 4% on the first $200,000 of the selling price, and 2.5% on the remainder.

a) What commission will Havel pay if he sells his home for $289,000?
b) What is the average commission rate on the selling price?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

2. Franklin was smart and bought all of his textbooks for college used. This way, he saved 30% on the original price of the textbooks. If the books would have originally cost $315 dollars, how much did Franklin pay? After a 30% discount is removed, what percentage of the original cost remains? How much did Franklin pay?
A. $50.38 B. $41.98 C. $38.96
Suppose that the luxury sales tax rate in a foreign country is 19%. A very wealthy socialite bought a diamond tiara for $244,000. How much tax does she pay?
A clothing merchant purchases a shipment of clothes for $36,000.00 with discounts of 8% and 4%. He sells it to a customer at a price which includes 21% profit on selling price and overhead expenses of 24% on selling price. a. How much did it cost him to purchase the container of clothes? b. What was the selling price of the container of clothes? c. Calculate the break-even selling price.
Maddy Brown needed start-up money for her landscape service. She borrowed $11,000 for 42 months and paid $1,617 interest on the loan. What interest rate did she pay?
If Mary received a 10% raise and is now making $17,600 a year, what was her salary before the raise?
3. A house sold for $75,200, which was 94% of the listing price of 4. When the sale on the Smith house closed, the broker withheld the sellers' title expense of $250, after deducting his 62 commission of $5,200 and delivered to the seller a net check for
Rose Garza's regular hourly wage rate is $12.00, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Rose worked 42 hours. Her gross earnings prior to the current week were $5,000. Rose is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $20 per week.
A car rental company is offering a contract to pay by-the-mile. The plan charges a flat rate of $50.55 each week. Every mile traveled during the week costs $2.2 each. a) How much would the bill be if in one week 177 miles were driven? b) How many miles were driven if the bill for one week was $1,557.55?
2. Jack sold a t-shirt for $100, he made a profit percentage of 25%. Calculate: a. The cost price of the t-shirt b. The amount of profit Jack made. 3. James is a friend of the grocery store owner, the owner allocates to James' name, a special discount of 2% whenever he shops at the store. If James' total $156.20 calculate whether or not James' total would be under $150.00 after the discount. 4. Jake buys a shirt marked at $80. He receives a 10 per cent discount. How much does he pay for the shirt? Section 4 (Measurement) 1. Calculate the are and perimeter of a square with sides 8 cm. 2. Calculate volume of a cube with side 15 m.