Real Estate Math
A property's market value is $600,000. The owner has a $420,000 mortgage. The owner pays a 6% commission. What is the owner's net equity after selling costs?
A$141,000
B$144,000✓ Correct
C$150,000
D$156,000
Explanation
Commission = 6% × $600,000 = $36,000. Net sale proceeds = $600,000 − $36,000 = $564,000.
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