Real Estate MathQuestion 117 of 120
A seller wants to net $190,000 after paying a 5% commission (and no other costs). What must the sales price be, rounded to the nearest dollar?
a.$200,000
b.$199,500
c.$180,500
d.$209,000
Explanation
The seller keeps 95% of the price, so price = $190,000 / 0.95 = $200,000. Checking: $200,000 x 5% = $10,000 commission, leaving $190,000.
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