For What Price Must a House Sell If the Seller

question 37

Multiple Choice

For what price must a house sell if the seller is to net $30,000 after paying $1,500 in settlement and the broker's commission of 6% (rounded to the nearest dollar) ?

• A) $30,000
• B) $32,011
• C) $32,300
• D) $33,511

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Definitions:

Total Cost

The sum of all costs associated with the production of goods or services, including fixed and variable costs.

Extraction Costs

Expenses associated with the removal of natural resources from the earth, such as mining or drilling.

User Costs

The costs incurred by using a product or service, including purchase price, maintenance, and operation expenses.

Level

A stage, degree, or magnitude in a hierarchical system, often used to describe intensity, development, or achievement.