Real Estate Math
A South Carolina property owner wants to net $250,000 after paying a 6% commission. What must the property sell for?
A$265,000
B$265,957✓ Correct
C$266,000
D$260,000
Explanation
Net = Sale Price × (1 - commission rate). $250,000 = Sale Price × 0.94. Sale Price = $250,000 / 0.94 = $265,957 (rounded). The seller needs to sell for approximately $265,957.
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