Real Estate Math
A Minnesota seller pays $375,000 for a home and sells it 5 years later for $455,000. Commission was 5.5% and total other closing costs were $4,200. What was the seller's net profit?
A$55,775
B$50,725✓ Correct
C$55,725
D$45,775
Explanation
Commission = $455,000 x 5.5% = $25,025.
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