Real Estate Math
An Iowa home is priced at $315,000. The buyer receives a seller concession of 3% toward closing costs. What is the dollar amount of the concession?
A$8,450
B$9,000
C$9,450✓ Correct
D$9,800
Explanation
Seller concession = $315,000 × 3% = $9,450. To solve this, multiply the relevant values: $315,000 at 3%.. The correct answer is $9,450.. This is a common calculation on the Iowa real estate exam.
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