Real Estate Math
A Louisiana seller accepts an offer of $285,000 on their home. The seller pays a 6% commission, $2,500 in closing costs, and has a mortgage balance of $187,000. What are the seller's net proceeds?
A$78,400✓ Correct
B$80,200
C$78,900
D$81,100
Explanation
Commission: $285,000 × 6% = $17,100. Net proceeds = $285,000 − $17,100 − $2,500 − $187,000 = $78,400.
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