Real Estate Math
A seller pays a 6% commission and $8,000 in other closing costs and nets $250,000. What was the approximate sale price?
A$265,000
B$274,468
C$280,000
D$258,000✓ Correct
Explanation
SP × (1 - 0.06) - $8,000 = $250,000. SP × 0.94 = $258,000. SP = $258,000 / 0.94 ≈ $274,468. To solve this, multiply the relevant values: $8,000 and $250,000 at 6%.. The correct answer is $258,000.. This is a common calculation on the Arizona real estate exam.
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