Real Estate Math
A Maine seller nets $285,000 after paying a 5% commission and $4,500 in closing costs. What was the sale price?
A$299,500
B$304,737✓ Correct
C$300,000
D$310,000
Explanation
Let P = sale price. Net = P − 0.05P − $4,500 = $285,000. 0.95P = $289,500. P = $289,500 ÷ 0.95 = $304,737.
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