An owner lists her home at a 7% commission rate and wants to net $45,000 after paying the mortgage balance of $68,000 and the broker's commission. To the nearest dollar, what should the selling price be to net her $45,000?

Question

An owner lists her home at a 7% commission rate and wants to net $45,000 after paying the mortgage balance of $68,000 and the broker's commission.  To the nearest dollar, what should the selling price be to net her $45,000?

Stella · Accepted Answer

You did a mistake on top in stead of $54,000 it should be $113,000. and then divided .93!

Linette · Answer

45,000 net +54,000 balance =130,000/.93=$121,505 It this correct?

Henry · Answer

See previous post: Sat, 8-1-15, 5:01 PM.

Yusef · Answer

Where does the .93 come from