Question

12. Michelle is selling her condo. She needs to make at least $42,000 from the sale so she can

make a down payment on a new house. If a 5.5% real estate commission is deducted, what is
the lowest offer Michelle should accept to get her down payment?

Answer 1

Total amount she need = $44,444

Explanation:

Given:

Amount Michelle needs = $42,000

Real state commission = 5.5%

Find:

Total amount she need

Computation:

Assume,

Total amount she need = x

So,

Real state commission = 0.055x

So,

x - 0.055x = 42000

x (0.945) = 42,000

x = 44,444 (Approx)

Total amount she need = $44,444