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Ivan
3 years ago
11

Rusty sells his home for $330,000. He must pay a 6% brokerage fee which will be split evenly between the selling broker and list

ing broker. He will also incur $5,000 in other closing costs and pay off a $225,000 mortgage balance. How much can Rusty expect to receive at closing?
Business
1 answer:
Solnce55 [7]3 years ago
8 0

Answer:

=$ 80, 200.00

Explanation:

selling price : $ 330,000.00

Commission 6 %:

Commissions paid = 6/100 x $ 330,000.00

     =$19,800.00

Closing costs =: $ 5000.00

Mortgage  paid : $ 225,000

Total payouts:  $19,800 + $50,00+ $225,000

   =$ 249, 800.00

Rusty Expects: $ 330,000.00- $ 249,800.00

   =$ 80, 200.00

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Using the 4 Cs, we consider a variety of costs associated with the purchase of a product. Cost in the Four Cs model is similar t
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3 years ago
Read 2 more answers
5. A business in its first period of trading charges $4,000 of sales tax on its sales and suffers $3,500 of sales tax on its pur
Katyanochek1 [597]

The unrecoverable sales tax on business entertaining ($250) has been deducted from $3,500

solution

                                   SALES TAX CONTROL ACCOUNT

Payable s                                             $ 3250        Receivables       $4000

Balance c/d (owned to tax authority)   $ 750

                                                           -------------                                ---------------

                                                             $ 4000                                    $4000

                                                           --------------                               ----------------

                                                                              By balance b/d       $ 750

8 0
3 years ago
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Slav-nsk [51]

Answer:

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