A proprrty sells for 130,000. 6% in commission is paid and 800.00in closing cost what are the net proceeds

Question

Sullivan Hurley

Mathematics

7 January, 05:13

A proprrty sells for 130,000. 6% in commission is paid and 800.00in closing cost what are the net proceeds

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Ximena Yoder · Answer 1

Net proceeds is the amount of money a seller will receive after the sale of a home.

It is calculated by taking the sale price of a home and subtracting all selling costs.

The cost will be given by:

(commission payeded) + (closing cost)

commission = (percentage commission) / 100*total sales

=6/100*130000

=7800

cost=7800+800=$8600

thus net proceeds=130000-8600=$121,400