Real Estate Math

An Oklahoma property has a list price of $299,000 and has been on the market for 75 days. The seller reduces the price by 4.5%. What is the new list price?

A$285,545✓ Correct

B$285,000

C$13,455

D$286,000

Explanation

Price reduction = $299,000 × 4.5% = $13,455. New list price = $299,000 − $13,455 = $285,545. To solve this, multiply the relevant values: $299,000 at 4.5%.. The correct answer is $285,545.. This is a common calculation on the Oklahoma real estate exam.

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