Real Estate Math
A Colorado seller accepted an offer of $498,000. The seller owes $287,000 on the mortgage, pays 5.5% commission, and has $4,200 in other closing costs. What are the seller's approximate net proceeds?
AA. $179,410✓ Correct
BB. $182,210
CC. $178,010
DD. $181,410
Explanation
Commission = $498,000 × 5.5% = $27,390.
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