Real Estate Math
An Oklahoma property sells for $520,000 with seller concessions of 3%. What is the net amount the seller receives before other costs?
A$504,400✓ Correct
B$503,600
C$510,000
D$499,000
Explanation
Concessions = $520,000 x 3% = $15,600. Net to seller = $520,000 - $15,600 = $504,400. To solve this, multiply the relevant values: $520,000 at 3%.. The correct answer is $504,400.. This is a common calculation on the Oklahoma real estate exam.
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