Real Estate Math
A Texas property sold for $285,000. The seller paid a 6% commission and $4,200 in closing costs. The seller's original purchase price was $220,000. What is the seller's net profit?
A$43,700✓ Correct
B$44,000
C$43,500
D$44,700
Explanation
Commission = $285,000 × 0.06 = $17,100. Total costs = $17,100 + $4,200 = $21,300. Net proceeds = $285,000 − $21,300 = $263,700. Net profit = $263,700 − $220,000 = $43,700.
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