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finlep [7]
3 years ago
13

Suppose you are interested in selling your home and would like to clear a net value of $300,000. If you have agreed to pay your

broker a commission of 5.5% (no matter who ultimately is responsible for finding the buyer), what price must you sell the home for in order to meet your net profit (rounded to the nearest dollar)?
Mathematics
1 answer:
QveST [7]3 years ago
8 0

Answer:

<h2>I need to sell the home for the price of $317,460.</h2>

Step-by-step explanation:

I need to pay 5.5% of the total to the broker.

I also want to gain $300,000 as a profit. I need to sell the house in such a price, so that after giving the 5.5% to the broker, i also have $300,000.

I need to find the value of 100%, where (100 - 5.5) = 94.5% represents  $300,000.

Hence, 100% = \frac{300000}{94.5} \times 100 = 317460.3.

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3 0
2 years ago
A man invests his savings in two accounts ,one paying6% and the other paying 10% simple interest per year. He puts twice as much
AnnyKZ [126]

Answer: he invested $46062.5 at 6% and $23031.25 at 10%

Step-by-step explanation:

Let x represent the amount which he invested in the account paying 6% interest.

Let y represent the amount which he invested in the account paying 10% interest.

He puts twice as much in the lower-yielding account because it is less risky.. This means that

x = 2y

The formula for determining simple interest is expressed as

I = PRT/100

Considering the account paying 6% interest,

P = $x

T = 1 year

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I = (x × 6 × 1)/100 = 0.06x

Considering the account paying 10% interest,

P = $y

T = 1 year

R = 10℅

I = (y × 10 × 1)/100 = 0.1y

His annual interest is $7370dollars. it means that

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Substituting x = 2y into equation 1, it becomes

0.06 × 2y + 0.2y = 7370

0.12y + 0.2y = 7370

0.32y = 7370

y = 7370/0.32

y = $23031.25

x = 2 × 23031.25

x = 46062.5

6 0
3 years ago
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total cost = $14.96 + $19.87 + $5.37

total cost = $40.20

 

So we see that the actual cost is similar with the estimate so his calculation is reasonable.

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2 years ago
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3 years ago
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Step-by-step explanation:

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