Real Estate Math
A home buyer receives a seller concession of 3% of the purchase price toward closing costs. If the purchase price is $340,000, what is the dollar value of the concession?
AA. $8,500
BB. $10,200✓ Correct
CC. $6,800
DD. $3,400
Explanation
Seller concession = 3% × $340,000 = $10,200. To solve this, multiply the relevant values: $340,000, at 3%.. The correct answer is B. $10,200.. This is a common calculation on the Georgia real estate exam.
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