Real Estate Math
A Kentucky seller's net sheet shows: sales price $285,000; commission 6%; closing costs $2,100; mortgage balance $168,000. What is the seller's approximate net proceeds?
A$97,800✓ Correct
B$98,800
C$99,800
D$101,900
Explanation
Commission = $285,000 × 6% = $17,100. Net = $285,000 − $17,100 − $2,100 − $168,000 = $97,800. To solve this, multiply the relevant values: $285,000 and $2,100 at 6%.. The correct answer is $97,800.. This is a common calculation on the Kentucky real estate exam.
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