Real Estate Math
A house sold for $440,000. The seller paid $18,000 in closing costs, a 5.5% commission, and had a $275,000 mortgage payoff. What were the seller's net proceeds?
A$122,800✓ Correct
B$123,800
C$118,800
D$121,800
Explanation
Commission: $440,000 × 0.055 = $24,200.
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