Real Estate Math
A Nebraska seller owes $182,500 on their mortgage and the property sells for $325,000 with a 6% commission and $4,800 in closing costs. How much does the seller receive after paying off the mortgage, commission, and closing costs?
A$118,200✓ Correct
B$125,200
C$122,200
D$118,900
Explanation
Commission = $325,000 × 6% = $19,500. Remaining = $325,000 − $182,500 − $19,500 − $4,800 = $118,200.
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