Real Estate Math
An Oklahoma property owner wants to sell their home and net $195,000 after paying a 6% commission. What price must they list at minimum?
A$206,250
B$207,447✓ Correct
C$207,750
D$210,000
Explanation
Price x (1 - 0.06) = $195,000. Price = $195,000 / 0.94 = $207,446.81 approximately $207,447. To solve this, multiply the relevant values: $195,000 at 6%.. The correct answer is $207,447.. This is a common calculation on the Oklahoma real estate exam.
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