Real Estate Math
A seller accepts a net listing from a broker. The seller wants to net $380,000 after paying a 5% commission. What must the property sell for?
A$399,000
B$400,000
C$402,105✓ Correct
D$395,800
Explanation
In a net listing, the seller receives $380,000 after the commission is paid. If commission is 5% of the sales price: Sales price × (1 – 0.
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