After real estate fees of 3% had been deducted from the proceeds of the sale of a property, the real estate agent sent the vendor (seller) of the property $244,400. What was the amount of fees retained by the real estate agent?
A) $7,558.76
B) $251,958.76
C) $7,800.00
D) $7,118.45
E) $237,281.55

Question

Quizplus · Accepted Answer

The real estate agent retained 3% of the proceeds of the sale, which is $244,400 x 0.03 = $7,332. The real estate agent sent the vendor $244,400, so the amount of fees retained by the real estate agent is $7,332.

After Real Estate Fees of 3% Had Been Deducted from the Proceeds