Real Estate Math
A Minnesota seller's closing costs total $19,000 on a $340,000 home sale. What percentage of the sale price are the closing costs?
A4.4%
B5.0%
C5.6%✓ Correct
D4.0%
Explanation
Closing cost percentage = Total Closing Costs / Sale Price = $19,000 / $340,000 = 0.05588 = approximately 5.
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