Real Estate Math
An Iowa agent lists a property at $349,000. The seller wants to net $325,000 after paying a 5% commission and $1,500 in closing costs. At the listed price, does the seller achieve their goal?
AYes, the seller nets $330,050
BYes, the seller nets $328,050
CNo, the seller nets only $329,550
DNo, the seller nets only $329,350✓ Correct
Explanation
Commission = $349,000 × 5% = $17,450. Net = $349,000 − $17,450 − $1,500 = $330,050. The seller exceeds their $325,000 goal; the net is $330,050. Best answer: Yes, $330,050.
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