A home seller wants to net $15,000. If he has agreed to pay a 5% commission, the loan payoff is $94,000 and closing costs are $1

Question

3 years ago

14

6,000, what must the minimum listing price be? Round to the nearest $100.

1 answer:

NeX [460] · Answer 1 · 2022-08-04T21:32:14+03:00

9514 1404 393

Answer:

$131,600

Step-by-step explanation:

If the listing price is P, then the net is the difference between that and all of the various costs.

P -(5%×P) -94,000 -16000 = 15,000

0.95P = 125,000

P ≈ 131,600 . . . . . . divide by 0.95

The minimum listing price must be $131,600.