Real Estate Math
A Wisconsin property sold for $275,000. The seller paid $6,000 in closing costs and a 5.5% commission. What was the seller's net proceeds?
A$253,875✓ Correct
B$254,125
C$215,794
D$255,875
Explanation
Commission = $275,000 × 5.5% = $15,125. Net = $275,000 − $15,125 − $6,000 = $253,875. To solve this, multiply the relevant values: $275,000 and $6,000 at 5.5%.. The correct answer is $253,875.. This is a common calculation on the Wisconsin real estate exam.
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