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Temka [501]
3 years ago
10

An owner says that he needs to net $25,000 from the sale of his home, where he still owes $253,000. Broker Bailey accepts the li

sting with permission to offer the home for sale at a commission of 6%. What will be the minimum contract price needed to satisfy the seller's needs and pay a 6% commission to Broker Bailey, assuming closing costs of $4,000?a.$272,420b.$282,000c. $298,920d.$300,000
Mathematics
1 answer:
gulaghasi [49]3 years ago
6 0

Answer:

  $300,000

Step-by-step explanation:

We want a contract price p that will satisfy ...

  p - 0.06p -4000 -253000 = 25000

  0.94p = 282000

  p = 300,000

Bailey needs to obtain a contract with a price of at least $300,000.

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