Real Estate Math
A Delaware seller wants to net exactly $250,000 after paying off a $175,000 mortgage and closing costs of $8,500. The agent charges a 5.5% commission. What minimum sale price is needed?
A$433,500✓ Correct
B$452,000
C$448,500
D$460,000
Explanation
Required gross proceeds = $250,000 + $175,000 + $8,500 = $433,500. Let Sale Price = P.
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