Real Estate Math
A Mississippi seller wants to net $180,000 after paying off a $95,000 mortgage and a 5% commission. The minimum selling price required is approximately:
A$289,474✓ Correct
B$280,000
C$295,000
D$275,000
Explanation
Total needed from sale = $180,000 (net) + $95,000 (mortgage) = $275,000. But after 5% commission: Selling price = $275,000 ÷ (1 − 0.
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