Real Estate Math

A seller wants to net $190,000 after paying a 5% commission and $3,500 in other closing costs. What must the property sell for?

A$199,500

B$202,632

C$203,684✓ Correct

D$200,000

Explanation

Let S = sale price. Net = S − (0.05 × S) − $3,500 = $190,000. 0.95S = $193,500. S = $193,500 ÷ 0.95 = $203,684 (rounded to nearest dollar).

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