Real Estate Math
A seller in Mississippi wants to net $150,000 after paying a 6% commission. What is the minimum price the property must sell for (rounded to the nearest dollar)?
A$156,000
B$159,574✓ Correct
C$160,000
D$162,000
Explanation
Desired net ÷ (1 − commission rate) = $150,000 ÷ 0.94 = $159,574 (rounded). This ensures the seller nets $150,000 after the 6% commission is deducted.
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