Real Estate Math
A Wisconsin home sells for $310,000. The seller pays 6% commission and $4,800 in other closing costs. The seller's existing mortgage payoff is $195,000. What are the seller's net proceeds?
A$90,900
B$91,600✓ Correct
C$77,860
D$92,600
Explanation
Commission = $310,000 × 6% = $18,600. Net = $310,000 - $18,600 - $4,800 - $195,000 = $91,600.
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