Real Estate Math
A Texas seller needs to net $340,000 from the sale. After paying 6% commission and $5,200 in closing costs, what does the property need to sell for?
A$367,234✓ Correct
B$360,000
C$366,170
D$375,000
Explanation
Net = SP × (1 – 0.06) – $5,200. $340,000 = SP × 0.94 – $5,200. SP × 0.94 = $345,200. SP = $345,200 / 0.94 = $367,234.
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