Real Estate Math
A Minnesota property sold for $425,000. The seller paid a total of $27,500 in closing costs and commission. What percentage of the sale price did the seller pay in total costs?
A5.5%
B6.0%
C6.5%✓ Correct
D7.0%
Explanation
Percentage = Total costs / Sale price = $27,500 / $425,000 = 0.06471 = approximately 6.
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