Real Estate Math
A Wisconsin homeowner sells for $430,000. After the 5.5% commission ($23,650), $6,200 in closing costs, and $198,000 mortgage payoff, what are the seller's net proceeds?
A$200,150
B$202,150✓ Correct
C$204,150
D$206,150
Explanation
Net = $430,000 - $23,650 - $6,200 - $198,000 = $202,150. To solve this, multiply the relevant values: $430,000 and $23,650 at 5.5%.. The correct answer is $202,150.. This is a common calculation on the Wisconsin real estate exam.
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