Real Estate Math
A seller owes $145,000 on their mortgage. The home sells for $265,000, and closing costs are $6,000 (including a 5% commission). What are the seller's net proceeds?
A$100,750✓ Correct
B$107,250
C$114,000
D$120,000
Explanation
Commission = $265,000 × 0.05 = $13,250.
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