SOLUTION: Paula and Melinda are considering selling their house, which they paid $150,000 for, but they'll only do so if they make at least a 10% profit. They'll have to pay 7% of the sellin

Algebra ->  Average -> SOLUTION: Paula and Melinda are considering selling their house, which they paid $150,000 for, but they'll only do so if they make at least a 10% profit. They'll have to pay 7% of the sellin      Log On


   

Question 989505: Paula and Melinda are considering selling their house, which they paid $150,000 for, but they'll only do so if they make at least a 10% profit. They'll have to pay 7% of the selling price in commission to their real estate agent, as well as $1,000 in closing costs. A potential buyer has offered $163,000 for the home. How much will they need to raise that offer for Paula and Melinda to consider accepting it?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


10% profit is 15,000 which takes the price to 165,000. Then add 1,000 to cover the closing costs; $166,000. Then multiply by 1.07 to cover the commission.

John

My calculator said it, I believe it, that settles it