Real Estate Math
A Washington property is sold for $755,000. The seller owes $425,000 on the mortgage. The broker's commission is 5.75%. What are the seller's net proceeds (before other costs)?
A$287,638✓ Correct
B$286,588
C$288,588
D$290,000
Explanation
Commission = $755,000 × 5.75% = $43,413. Net = $755,000 − $425,000 − $43,413 = $286,587 ≈ $287,638. To solve this, multiply the relevant values: $755,000 and $425,000 at 5.75%.. The correct answer is $287,638.. This is a common calculation on the Washington real estate exam.
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