Real Estate Math
A seller wants to net $400,000 after paying a 6% brokerage commission and $5,000 in other closing costs. What must the sale price be?
A$425,532
B$405,000✓ Correct
C$435,000
D$437,500
Explanation
Net = Sale Price x (1 - 6%) - $5,000 = $400,000. Sale Price x 0.94 = $405,000. Sale Price = $405,000 / 0.94 ≈ $430,851.
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