Real Estate Math
A Connecticut seller accepts an offer of $395,000. The existing mortgage payoff is $218,000 and the commission is 5.5%. Closing costs total $3,200. What are the seller's net proceeds?
A$151,076✓ Correct
B$155,076
C$157,076
D$160,276
Explanation
Commission = $395,000 × 5.5% = $21,725.
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