Answer:
$11,850
Explanation:
A home sells for $125,000
Realtor's commision is 7.4%
Mortgage balance is $98,000
The seller has $5,900 from other closing costs.
Therefore, her net at closing will be the deduction of all from the amount she sold the house.
Firstly, Realtor's commision =7.4% of $125,000
=7.4% x $125,000
=0.074x$125,000
=$9,250
Seller's Balance=House cost - realtor's commision
= $125,000 - $9250
=$115,750
Secondly, Seller's Balance-Mortgage's balance
= $115,750 - $98,000
= $17,750
L:astly, Net at closing= House cost - closing cost
= $17,750 - $5,900
= $11,850
