Real Estate Math
A Maine seller accepts an offer of $348,000. After paying off a $205,000 mortgage, a 5.5% commission, and $2,200 in closing costs, the seller's net proceeds are:
A$121,660✓ Correct
B$121,740
C$121,760
D$122,660
Explanation
Commission = $348,000 × 5.5% = $19,140.
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