Real Estate Math
An owner wants to sell at a price that will net $350,000 after a 5% commission and $8,000 in closing costs. What should the minimum listing price be?
A$366,316
B$377,895✓ Correct
C$375,000
D$382,105
Explanation
Net needed from sale = $350,000 + $8,000 = $358,000. Price after commission = Price × (1 − 0.05) = Price × 0.95. Price = $358,000 ÷ 0.95 ≈ $376,842.95 = $376,842.
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