Real Estate Math
A Michigan seller nets $156,000 after paying off a $189,000 mortgage and $12,750 in closing costs. What was the sale price?
A$345,000
B$357,750✓ Correct
C$368,250
D$340,500
Explanation
Sale price = Net proceeds + Mortgage payoff + Closing costs = $156,000 + $189,000 + $12,750 = $357,750.
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