Real Estate Math
A Texas property owner has a loan balance of $180,000. They sell the home for $290,000. After paying a 6% commission and $3,500 in closing costs, and paying off the loan, how much do they net?
A$89,100✓ Correct
B$88,600
C$90,200
D$87,900
Explanation
Commission = $290,000 × 0.06 = $17,400. Total costs = $17,400 + $3,500 + $180,000 = $200,900. Net = $290,000 − $200,900 = $89,100.
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