Finance
A Mississippi seller agrees to pay a 2% 'seller's concession' toward the buyer's closing costs on a $200,000 purchase. The dollar amount of the concession is:
A$2,000
B$4,000✓ Correct
C$3,000
D$5,000
Explanation
Seller concession = $200,000 × 2% = $4,000. The seller contributes $4,000 toward the buyer's closing costs, reducing the cash the buyer needs to bring to closing.
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