A real estate agent earns 2.7% in commission on sales. If the agent had $3,827,820 in sales last year, approximately how much did the agent earn in commission?
To calculate the agent's commission earnings, you would multiply the sales amount by the commission rate:
Commission = Sales Amount * Commission Rate
Commission = $3,827,820 * 0.027
Commission = $103,299.54
Therefore, the real estate agent earned approximately $103,299.54 in commission last year.