Question 157960: Rita State is selling her home. Since she hired a realtor, she must pay 6% of the purchase price to the realtor. If Rita wants to have at least $180,000 left after paying the realtor, what is the minimal amount (to the correct dollar) to set the purchase price? (ignore tax, etc)
PLEASE HELP WITH EXACT STEPS!
Found 2 solutions by checkley77, scott8148:
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! The selling price (x) less the $ 180,000 equals the 6% commission of the elling price (x).
x-180=.06x
x-.06x=180,000
.94x=180,000
x=180,000/.94
x=$191,489 is the minimum selling price.
Answer by scott8148(6628)  (Show Source):
You can put this solution on YOUR website! the realtor gets 6%, so Rita keeps 94% __ let x=purchase price
the minimum purchase price will leave Rita with $180000 __ (94%)x=180000
dividing by .94 __ x=191490
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