Real Estate Math
An Iowa seller nets $190,000 after a 6% commission and $3,000 in closing costs. What was the sale price?
A$204,000
B$205,319
C$206,383✓ Correct
D$207,447
Explanation
Net = Sale price × (1 − 0.06) − $3,000. $190,000 = Sale price × 0.94 − $3,000. Sale price × 0.94 = $193,000. Sale price = $193,000 ÷ 0.94 = $205,319.15. Closest is $205,319.
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