Real Estate Math
A Tennessee seller nets $248,000 after paying a 6% commission. What was the sale price?
A$263,830✓ Correct
B$262,500
C$264,000
D$261,702
Explanation
Net = Sale price × (1 − 0.06). Sale price = $248,000 ÷ 0.94 = $263,829.79 ≈ $263,830. To solve this, multiply the relevant values: $248,000 at 6%.. The correct answer is $263,830.. This is a common calculation on the Tennessee real estate exam.
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