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A salesman is trying to list a house. The balance of the mortgage is $65,000. The owner says he wants to clear (net) $120,000 from
A salesman is trying to list a house. The balance of the mortgage is $65,000. The owner says he wants to clear (net) $120,000 from the sale of the house. It would cost about $5,000 to fix the house up to sell. The salesmans commission will depend on the sale price of the house after assuring that the owner nets his $120,000. How much does he have to sell the house for to make sure that his commission is equal to 4% of the sale price? A. $197,600 B. $186,618 C. $190,000 D. $197,917 E. $182,400
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