Real Estate Math
A New Mexico home has a list price of $480,000. After 45 days, it sells for 97.5% of list price. What is the sales price?
A$457,600
B$462,000
C$468,000✓ Correct
D$472,000
Explanation
Sales price = $480,000 x 97.5% = $480,000 x 0.975 = $468,000. To solve this, multiply the relevant values: $480,000 at 97.5%.. The correct answer is $468,000.. This is a common calculation on the New Mexico real estate exam.
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