The net proceeds to the vendor of a house after payment of 4.8% real estate commission was $182,784.00. At what price did the house sell?
A) $192,000.00
B) $877,363.20
C) $191,557.63
D) $8773.63
E) $201,216.00

Question

Quizplus · Accepted Answer

The net proceeds are the amount the vendor receives after the real estate commission is deducted. To find the selling price, divide the net proceeds by (1 - commission rate). Here, $182,784.00 / (1 - 0.048) = $192,000.00.

The Net Proceeds to the Vendor of a House After