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26 August, 11:30

A parcel of vacant land 80 feet wide and 200 feet deep was sold for $2000 per front foot. how much money would a broker receive for her 60% share in the 10% commission?

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  1. 26 August, 11:32
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    First, calculate the area of the vacant land by multiplying the given dimensions.

    Area = (80 ft) (200 ft)

    Area = 16000 ft^2

    Then, multiply the calculated area with the given price per ft^2.

    Total price = ($2000/ft^2) (16,000 ft^2)

    Total price = $32,000,000

    The 10% commission of selling the land is equal to $3,200,000.

    The money that the broker will receive will be 60% of the commission.

    = (0.6) ($3,200,000)

    = $1,920,000
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