Real Estate Math
A Maine property is listed at $519,000. After 60 days, the agent suggests a 4% price reduction. The new list price would be:
A$498,240✓ Correct
B$499,000
C$500,000
D$498,000
Explanation
Reduction = $519,000 × 4% = $20,760. New price = $519,000 − $20,760 = $498,240. To solve this, multiply the relevant values: $519,000 at 4%.. The correct answer is $498,240.. This is a common calculation on the Maine real estate exam.
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