Real Estate Math
A Massachusetts seller wants to clear $300,000 after paying off a $175,000 mortgage and a 5% commission. What minimum sale price do they need?
A$500,000✓ Correct
B$425,000
C$526,316
D$505,263
Explanation
Net needed = $300,000 + $175,000 = $475,000 (before commission). Sale price × (1 − 0.05) = $475,000. Sale price = $475,000 ÷ 0.95 = $500,000.95 = $475,000; $475,000 − $175,000 = $300,000. So sale price = $500,000. Answer is $500,000. Correcting: correct index should be 0.
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