7- The commission for the sale of a $ 540,000 house was $ 12,020.
8- The commission for the sale of a $ 795,600 house was $ 17,132.
9- The commission during the 4 weeks of February was $ 24,690.
10- The commission during the 4 weeks was $ 27,754.
11- The house was worth $ 440,000.
Given that a real estate office pays its salespeople a weekly retainer of $ 220 plus commission of 2.5% for the first $ 200,000 of the value of each property sold and 2% of each amount after that, to determine the commission received if the following houses are sold, the following calculations must be performed:
- 7- a $ 540,000 house
- 540,000 - 200,000 = 340,000
- 220 + (200,000 x 0.025) + (340,000 x 0.02) = X
- 220 + 5000 + 6800 = X
- 12020 = X
- 8- a $ 795,600 house
- 795,600 - 200,000 = 595,600
- 220 + 5000 + (595,600 x 0.02) = X
- 5220 + 11912 = X
- 17132 = X
- 9- a $ 472,500 house and a $ 618,000 house
- 472,500 - 200,000 = 272,500
- 618,000 - 200,000 = 418,000
- 220 x 4 + 5000 + (272,500 x 0.02) + 5000 + (418,000 x 0.02) = X
- 880 + 10,000 + 5,450 + 8,360 = X
- 24,690 = X
- 10- a $ 384,000 unit, a $ 216,000 unit and a $ 593,700 house
- 384,000 - 200,000 = 184,000
- 216,000 - 200,000 = 16,000
- 593,700 - 200,000 = 393,700
- 880 + 5000 x 3 + (184,000 x 0.02) + (16,000 x 0.02) + (393,700 x 0.02) = X
- 15880 + 3680 + 320 + 7874 = X
- 27.754 = X
- 11- the value of a house whose commission is $ 9800
- 200,000 x 0.025 = 5000
- 9800 - 5000 = 4800
- 2 = 4800
- 100 = X
- 100 x 4800/2 = X
- 240,000 = X
- 240,000 + 200,000 = 440,000
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