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?

Answer 1

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