Real Estate Math
A seller nets $412,000 after paying a 5% commission. What was the selling price?
A$432,600
B$433,684✓ Correct
C$412,000
D$430,000
Explanation
If the seller nets $412,000 after paying 5% commission, then the net = Selling Price × (1 – 0.05) = Selling Price × 0.95. Selling Price = $412,000 ÷ 0.95 = $433,684.21. The commission is paid from the gross proceeds, so the selling price must be grossed up.
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