Real Estate Math
A Missouri investor pays $285,000 for a home and sells it 2 years later for $312,000. After 6% commission and $3,500 closing costs, what is the net profit?
A$4,780✓ Correct
B$5,780
C$8,280
D$4,280
Explanation
Commission = $312,000 × 6% = $18,720. Net proceeds = $312,000 − $18,720 − $3,500 = $289,780. Net profit = $289,780 − $285,000 = $4,780.
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