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How much did Broker Bob receive

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Reference no: EM132857342

Question - Broker Bob lists a farm measuring one-quarter mile square. The list price is $3,000.00 per acre with a commission of six percent. The land is sold in a cooperative sale for a price of 90% of the list price. The buyer applies for a loan with a 20% down-payment, 30 year term, 5 percent interest and pays 2 discount points. The two brokers equally share the commission. How much did Broker Bob receive?

A. $3,240

B. $3,600

C. $6,480

D. $7,200

Reference no: EM132857342

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