Real Estate Math
Seller closing costs include a 5% commission on a $415,000 sale, $1,200 title fees, and $800 in other costs. What are total seller closing costs?
A$20,750
B$22,750✓ Correct
C$22,550
D$23,000
Explanation
Commission = $415,000 × 5% = $20,750. Total = $20,750 + $1,200 + $800 = $22,750. To solve this, multiply the relevant values: $415,000 and $1,200 at 5%.. The correct answer is $22,750.. This is a common calculation on the Utah real estate exam.
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