Real Estate Math
A South Carolina home is listed for $329,000. After 90 days, the price is reduced by 3.5%. What is the new price?
A$314,935
B$315,535
C$317,485✓ Correct
D$318,000
Explanation
Reduction = $329,000 × 3.5% = $11,515. New price = $329,000 − $11,515 = $317,485. To solve this, multiply the relevant values: $329,000 at 3.5%.. The correct answer is $317,485.. This is a common calculation on the South Carolina real estate exam.
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