Real Estate Math
A homeowner paid $195,000 for a property and later sold it for $246,000. After paying $14,760 in commission, what was the homeowner's net profit from the sale?
AA. $36,240✓ Correct
BB. $51,000
CC. $36,240
DD. $31,240
Explanation
Net proceeds = $246,000 − $14,760 = $231,240. Profit = $231,240 − $195,000 = $36,240. Using the values given ($195,000, $246,000), apply the appropriate formula.. The correct answer is A. $36,240.. This is a common calculation on the Georgia real estate exam.
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