Real Estate Math
A property is listed at $275,000 and sells for 97% of the asking price. The seller pays a 5% commission and $2,500 in other closing costs. What are the seller's net proceeds?
A$252,275
B$247,225
C$249,775✓ Correct
D$254,775
Explanation
Sale price = $275,000 × 0.97 = $266,750.
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