A real estate agent works on a 9%9% commission. What is her commission on a house that she sold for $550,500$550,500? Follow the problem-solving process and round your answer to the nearest cent, if necessary.
Question
A real estate agent works on a 9%9% commission. What is her commission on a house that she sold for 550,500? Follow the problem-solving process and round your answer to the nearest cent, if necessary.
Solution
Step 1: Understand the problem The problem is asking us to find out how much commission a real estate agent earns from selling a house. We know that the agent's commission rate is 9% and the selling price of the house is $550,500.
Step 2: Devise a plan To find the commission, we need to multiply the selling price of the house by the commission rate.
Step 3: Carry out the plan First, we need to convert the commission rate from a percentage to a decimal. We do this by dividing the percentage by 100. So, 9% becomes 0.09.
Next, we multiply the selling price of the house by the commission rate: 49,545
Step 4: Look back The real estate agent earns 550,500.
So, the real estate agent's commission on the house she sold for 49,545.
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