Real Estate Math
A New York property owner receives an offer 8% below the asking price of $895,000. What is the offer price?
A$823,400✓ Correct
B$824,200
C$826,900
D$836,200
Explanation
Offer = $895,000 x (1 - 0.08) = $895,000 x 0.92 = $823,400. To solve this, multiply the relevant values: $895,000 at 8%.. The correct answer is $823,400.. This is a common calculation on the New York real estate exam.
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