Real Estate Math
A Maine seller wants their agent to net them $350,000 after paying a 5.5% commission and $5,000 in closing costs. The required sale price is approximately:
A$370,000
B$374,000
C$376,000✓ Correct
D$378,500
Explanation
Price × (1 − 0.055) − $5,000 = $350,000. Price × 0.945 = $355,000. Price = $355,000 ÷ 0.945 = $375,661 ≈ $376,000.
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