After real estate fees of 8% had been deducted from the proceeds of a property sale, the

Question:

After real estate fees of 8% had been deducted from the proceeds of a property sale, the vendor of the property received $88 090. What was the amount of the real estate fee?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Question Posted: Feb 26, 2016 03:27 AM

See More Questions

The controller of Choleva Products Limited has provided you with the following draft income statement as well as some notes that she made during the preparation of this statement. Choleva Products...
The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by an asterisk. a. Finders fee...
The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by an asterisk. a. Finders fee...
Refer to the following lease amortization schedule. The 10 payments are made annually starting with the inception Of the lease. Title does not transfer to the lessee and there is no bargain purchase...
Sarah owns a valuable diamond ring that has been in her family for generations. She is told by an appraiser that the ring has a current market value of $50,000. She feels that the ring is adequately...
The bracket is held to the wall using three A-36 steel bolts at B, C, and D. Each bolt has a diameter of 0.5 in. and an unstretched length of 2 in. If a force of 800 lb is placed on the bracket as...
Suppose there is a risk-free asset and n risky assets. Consider an investor with quadratic utility E[ w] 1 2 E[ w] 2 1 2 var(w) and no labor income. Show that the optimal portfolio for the investor...
M&M Lamont Corp, uses no debt. The weighted average cost of capital is 11 percent. If the current market value of the equity is $25 million and there are no taxes, what is EBIT?
Problem 8 - 3 0 A ( Static ) Calculating depreciation expense using four different methods LO 8 - 2 , 8 - 3 , 8 - 4 , 8 - 6 Banko Incorporated manufactures sporting goods. The following information...
The manufacturing plant of National Brand Corporation has agreed to supply its best 2 customers with their number 1 product. Customer A will be supplied for 3 months and customer B will be supplied...
The working capital at the end of the third quarter was 75% higher than at the end of the second quarter. What was the amount of working capital at the end of the second quarter if the working...
A companys employee compensation expense for August, consisting of the gross pay plus 4% vacation pay based on gross pay, was $23 400. How much was the amount of vacation pay expense?
Why is it possible to understand the words spoken by two people at the same time?
See US Debt Clock and answer the following: (Hint: Take a screenshot of the Debt Clock) (2) A. What is the current US deficit and the total federal debt? (1) B What is the net interest...
GASB states that public colleges and universities are special purpose governmentsand therefore accountable to the citizenry (Hoyle, 2015). Furthermore, GASB found that for public colleges and...
You have recently been assigned to the production planning department within your company. Your firm makes large blades for power generation windmills. The windmills are mostly used in the western...
Jason Ready attended the University of Ohio from 2 0 1 9 to 2 0 2 3 under the Air Force ROTC program. Excluding the school expenses covered by his ROTC scholarship, he incurred additional school...
Questions Chap 1 1. Consider the following cases and decide whether criminal or civil proceedings would result, and make a note of the parties in the action. a) Ali is being prosecuted for careless...
(a) A company prepares a set of accounts for the year to 31 July 2020. When is the corporation tax liability for this period due for payment? (b) A company prepares a set of accounts for the 18...
Is it ethical to provide safety training in English to immigrant workers who speak little English, in order to reduce costs?
Refer to the data in Problem 20. Work the problem for issue C.
A $5000 bond with 8% interest payable semi-annually redeemable at par on June 1, 2031, was bought on December 1, 2017, to yield 9% compounded semi-annually. The bond was sold on September 22, 2021,...
A $100 000, 5% bond with interest payable semi-annually redeemable at par on July 15, 2031, was purchased on April 18, 2020, to yield 7% compounded semi-annually. Determine (a) The premium or...
Three $10 000, 10.5% bonds with quarterly coupons redeemable at par on August 1, 2025, were bought on May 1, 2011, to yield 12% compounded quarterly. The bonds were sold on January 16, 2019, at 93.5.
Prepare journal entries to record the following events: Jul. 1 Klemens Company accepted a 5%, 3-month, $8,000 note dated July 1 from Mox Company for the balance due on Mox's account. Jul. 31 Klemens...
FINANCIAL STATEMENT ANALYSIS INSTRUCTIONS 1. PREPARE RATIO ANALYSIS REPORT ( word file) Format 1. Introduction 2. Importance of Financial Statements 3. Importance of Financial statement analysis and...
Let us assume that Europe is in recession, China's economy is slowing down, and the US economy is growing at 1-2%. Use these assumptions to invest in 4 ETFs (electronically traded funds). The 4 ETFs...

After real estate fees of 8% had been deducted from the proceeds of a property sale, the

Question:

Step by Step Answer:

Let the proceeds be ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions