Real Estate Math
A Delaware seller nets $195,000 after paying off a $145,000 mortgage, a 5.5% commission on a sale price of $360,000, and $4,000 in other closing costs. Did the seller achieve this net?
A$191,200✓ Correct
BYes, the net is exactly $195,000
CYes, the net is slightly more than $195,000
DThe commission alone eliminates the desired net
Explanation
Commission = $360,000 × 0.055 = $19,800. Total deductions = $145,000 + $19,800 + $4,000 = $168,800. Net = $360,000 − $168,800 = $191,200. The seller falls short of $195,000.
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