Finance
A Maryland seller offers to pay 3% of the purchase price toward the buyer's closing costs. On a $400,000 sale, this 'seller concession' amounts to:
A$4,000
B$8,000
C$12,000✓ Correct
D$16,000
Explanation
Seller concession = $400,000 × 3% = $12,000. To solve this, multiply the relevant values: $400,000 at 3%.. The correct answer is $12,000.. This is a common calculation on the Maryland real estate exam.
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