Real Estate Math
A seller nets $392,000 after paying a 6% commission and $8,000 in closing costs. What was the sale price of the property?
A$425,532✓ Correct
B$430,000
C$425,000
D$420,000
Explanation
Let SP = sale price. Net = SP − 0.06SP − $8,000 = 0.94SP − $8,000 = $392,000. So 0.94SP = $400,000. SP = $400,000 ÷ 0.94 ≈ $425,532.
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