Real Estate Math
A Florida seller receives an offer of $375,000. After paying the 6% commission, $2,400 in closing costs, and satisfying the $275,000 mortgage balance, the seller's net proceeds are:
A$75,100✓ Correct
B$74,600
C$97,600
D$72,100
Explanation
Commission = $375,000 × 6% = $22,500. Net = $375,000 − $22,500 − $2,400 − $275,000 = $75,100.
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