Asked by Linette
An owner list his home and agrees to pay a 6% commission provided he nets $10,000 after paying the commission and the balance of his mortgage, which is $75,000. To the nearest dollar, what should the selling price be to net the owner his $10,000?
Answers
Answered by
Damon
selling price = p
costs:
commission = .06 p
mortgage = 75,000
so
10,000 = p - .06 p -75,000
.94 p = 85000
p = 85,000/.94 = 90,425.53
costs:
commission = .06 p
mortgage = 75,000
so
10,000 = p - .06 p -75,000
.94 p = 85000
p = 85,000/.94 = 90,425.53
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