Real Estate Math
A NJ broker's escrow account has a starting balance of $50,000. The broker deposits two checks of $8,500 and $12,000 and disburses $6,000 to a closing. What is the new balance?
A$62,500
B$64,500✓ Correct
C$70,000
D$56,000
Explanation
$50,000 + $8,500 + $12,000 – $6,000 = $64,500. Using the values given ($50,000, $8,500), apply the appropriate formula..
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