Real Estate Math
An Iowa seller receives $178,500 after paying all closing costs including a 6% commission and $2,200 in other closing costs. What was the sale price?
A$191,170✓ Correct
B$190,000
C$192,234
D$183,700
Explanation
Net proceeds = Sale Price x (1 - 0.06) - $2,200 = $178,500.
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