Question

N To be able to afford the house of their dreams, Dave and Leslie must clear $128,000 from the sale of their first house. If they must pay $780 in closing costs and 6% of the selling price for the sales commission, then what is the minimum selling price for which they will get $128,000?

Answer 1

Answer:

the selling price of the house is estimated as $137,000

Step-by-step explanation:

Given data:

clear amount is $128,000

closing cost is $780

sales commission rate is 6%

let S be the selling price of house

from the information given in the question we have  following relation

$128,000 \leq S - 0.06S - 780$

$128,000 \leq 0.94S - 780$

adding 780 on both side, we get

$128,000 - 780 \leq 0.94S$

divide the both side by 0.94, we get

$137,000 \leq S$

therefor the selling price of the house is estimated as $137,000