A family is planning to sell their home.

Question

A family is planning to sell their home. If they want to be left with $117,500 after paying 6% of selling price to realtor as a commission, how much must they sell the house?

Answer 1

the family will NET 94% of the sale price, so 0.94x = 117,500.

 

solve for x, the necessary selling price before commission.

ANSWERED without consideration of other closing costs, which can be somewhat oppressive but irresistible due to real estate business practices.