Real Estate Math
A North Dakota broker's monthly trust account begins the month with $8,000. Deposits include earnest money of $12,000 and a security deposit of $3,000. Disbursements total $9,500. What is the ending balance?
A$13,500✓ Correct
B$14,500
C$15,000
D$23,500
Explanation
Ending balance = $8,000 + $12,000 + $3,000 − $9,500 = $13,500. Using the values given ($8,000, $12,000), apply the appropriate formula.. The correct answer is $13,500.. This is a common calculation on the North Dakota real estate exam.
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