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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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