Real Estate Math
A South Carolina property was purchased for $275,000. After 8 years, it is sold for $385,000 less 6% commission. What is the net gain?
A$85,400
B$86,900✓ Correct
C$87,100
D$87,300
Explanation
Sale proceeds = $385,000 − ($385,000 × 6%) = $385,000 − $23,100 = $361,900. Net gain = $361,900 − $275,000 = $86,900.
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