Question

if you are selling your house with a local realtor who requires a 4% commission fee what can you expect to pay the realtor if your house sells for $167,000

Answer 1

The formula to calculate the commission to be paid is given to be:

$Commission=\frac{\text{Commission Percentage}}{100}\times\text{Selling Cost}$

The commission percentage is given to be 4%.

The house is sold for $167,000.

Therefore, we can calculate the commission fee paid to be:

$\begin{gathered} Fee=\frac{4}{100}\times167000 \\ Fee=6680 \end{gathered}$

The commission fee is $6,680