Real Estate Math
A home in Charlotte sells for $490,000. The seller pays a 5.5% brokerage commission and $3,200 in other closing costs. What are the seller's total transaction costs?
A$29,150
B$26,950
C$30,150✓ Correct
D$30,950
Explanation
Commission: $490,000 × 0.055 = $26,950. Total: $26,950 + $3,200 = $30,150.055 = $26,950 + $3,200 = $30,150. Correct answer is $30,150.
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