Real Estate Math
A Michigan seller receives $268,500 after paying a 5% commission. What was the sale price?
A$282,600
B$281,925
C$282,632✓ Correct
D$283,500
Explanation
Net = SP × (1 - 0.05) = SP × 0.95 = $268,500. SP = $268,500 / 0.95 = $282,631.58 ≈ $282,632. To solve this, multiply the relevant values: $268,500 at 5%.. The correct answer is $282,632.. This is a common calculation on the Michigan real estate exam.
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