Real Estate Math
A Wisconsin seller owes $195,000 on their mortgage and sells for $410,000. After a 5% commission ($20,500) and $8,300 in other closing costs, what are their net proceeds?
A$184,200
B$186,200✓ Correct
C$188,200
D$190,200
Explanation
Net proceeds = $410,000 - $195,000 - $20,500 - $8,300 = $186,200. To solve this, multiply the relevant values: $195,000 and $410,000 at 5%..
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