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Real Estate Math

Real Estate Math Practice Question

Timothy agrees to list his property to receive at least $100,000 after paying 5% broker's commission and $2,500 closing costs. At what price must it sell?
A
$100,000.00
B
$105,263.00
C
$107,895.00
D
$110,192.00
Explanation

Net needed = $100,000 + $2,500 = $102,500. This is 95% of sale price. Sale Price = $102,500 ÷ 0.95 = $107,894.74 ≈ $107,895

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