Question

NEED ANSWERS ASAP 80 POINT QUESTIONS

a) The value of homes in one area went up by an average of 2.3% in the past year. Estimate the value today of a home that was valued at $265,000 last year.

b) This year, the annual sales through one Century 21 office with 12 sales agents were $42 million. Estimate the revenue for the office if it received an average of 20% of the 6% commission on sales.

c) a) From the revenue in part (b) above, the office manager must pay all costs of operating the sales office, including advertising, utilities, phones, insurance, and salaries for all noncommission employees. For the current year, these costs amount to $468,000. Find the profit as a percent of total revenue to the real estate office and round to the nearest tenth of a percent.

Answer 1

A) 265,000* 1.023 = $271,095

B) 42,000,000*0.06 = 2,520,000*0.20 = $504,000

C) 504000 - 468000 = 36000/504000 = 0.0714 = 7.1%