Final answer:
Debra needs to list her house for at least $452,127.66 to cover her mortgage, closing costs, and commission while netting $100,000. The correct option is C.
Step-by-step explanation:
The question asks us to calculate the minimum listing price that Debra can agree to so that she nets $100,000 after paying off her mortgage and covering closing costs, which include a commission. To determine this, we first need to calculate the total amount Debra will need to cover her desired net amount, closing costs, and commission.
First, add the desired net amount of $100,000 and closing costs of $15,000, which equals $115,000. Then, Debra needs to cover the amount she owes on her loan which is $310,000. This totals to $425,000 before commission. As the commission is 6% of the selling price, we can set up the equation 0.94x = $425,000, where x is the listing price. Solving for x gives us x = $425,000 / 0.94, which equals approximately $452,127.66.
Therefore, the minimum listing price that Debra can agree to is $452,127.66 to net $100,000 after paying a 6% commission and $15,000 in closing costs, and paying off her $310,000 mortgage.