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}*\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=(4)/(100)*167000 \\ Fee=6680 \end{gathered}`

The commission fee is $6,680