Real Estate Math
A property is listed for $550,000 and the seller must net at least $510,000 after a 5% commission. Will the asking price achieve the seller's net requirement?
ANo; the seller will net $522,500
BYes; the seller will net $522,500 which exceeds $510,000✓ Correct
CNo; the seller will net $495,000
DYes; the seller will net $497,500
Explanation
Commission = $550,000 × 5% = $27,500. Net to seller = $550,000 - $27,500 = $522,500. Since $522,500 > $510,000, yes, the asking price achieves the seller's minimum net requirement.
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