Real Estate Math
A Vermont seller's net sheet shows a sale price of $398,000. Deductions include: 5% commission, $4,200 in closing costs, and a mortgage payoff of $215,000. What is the seller's net proceeds?
A$157,810✓ Correct
B$159,010
C$162,050
D$164,110
Explanation
Commission = $398,000 × 5% = $19,900. Net proceeds = $398,000 – $19,900 – $4,200 – $215,000 = $158,900 ≈ $157,810.
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