Real Estate Math
A seller wants to net $180,000 after paying a 6% commission and $3,000 in closing costs. What must the property sell for (rounded to the nearest dollar)?
A$191,489
B$180,000✓ Correct
C$195,000
D$196,800
Explanation
Net = Sale Price − (Sale Price × 6%) − $3,000. Rearranged: $180,000 + $3,000 = SP × (1 − 0.06), so $183,000 = SP × 0.94. SP = $183,000 ÷ 0.94 ≈ $194,681. Verify: $194,681 × 6% = $11,681 commission; $194,681 − $11,681 − $3,000 = $180,000. ✓
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