Real Estate Math
A Hawaii agent lists a property at $1,250,000. After 45 days with no offers, the seller reduces the price by 8%. What is the new list price?
A$1,100,000
B$1,050,000
C$1,150,000✓ Correct
D$1,200,000
Explanation
Price reduction = $1,250,000 × 0.08 = $100,000. New price = $1,250,000 − $100,000 = $1,150,000. To solve this, multiply the relevant values: $1,250,000 at 8%.. The correct answer is $1,150,000.. This is a common calculation on the Hawaii real estate exam.
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