michelle is selling her condo. she needs to make at least $42,000 from the sale so she can make a down payment on a new house. i

Question

3 years ago

11

f a 5.5% real estate commission is deducted, what is the lowest offer michelle should accept to get her down payment

1 answer:

SSSSS [86.1K] · Answer 1 · 2022-05-10T11:16:42+03:00

Answer:

Minimum amount she needs = $44,444 (Approx)

Step-by-step explanation:

Given:

Down payment of house = $42,000

Real estate commission = 5.5%

Find:

Minimum amount she needs

Computation:

Minimum amount she needs = Down payment of house / (100% - Real estate commission)

Minimum amount she needs = [$42,000 / 94.5]100

Minimum amount she needs = $44,444 (Approx)