Real Estate Math
A property is listed at $320,000. After 60 days, the seller reduces the price by 5%. What is the new listing price?
A$304,000✓ Correct
B$300,000
C$316,000
D$312,000
Explanation
Price reduction = $320,000 × 0.05 = $16,000. New price = $320,000 − $16,000 = $304,000. To solve this, multiply the relevant values: $320,000 at 5%.. The correct answer is $304,000.. This is a common calculation on the Tennessee real estate exam.
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