Real Estate Math
A Tennessee seller receives $412,000 from a sale. They pay a 5.5% broker commission, $3,500 in closing costs, and the balance of their $280,000 mortgage. How much does the seller net?
A$106,240✓ Correct
B$105,840
C$128,500
D$108,500
Explanation
Commission = $412,000 × 5.5% = $22,660. Total deductions = $22,660 + $3,500 + $280,000 = $306,160. Net = $412,000 − $306,160 = $105,840 ≈ $105,840.
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