Question 255240: i need help with setting up this problem because im not sure how: a home owner is selling her house. she must pay 7% of the selling price to her real estate agent after the house is sold define a variable and write and solve an inequality to find what the selling price of her house must be to make at least 140,000$ round to nearest dollar. -thank you
Found 2 solutions by Theo, richwmiller:
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! let x = selling price of house.
she must pay .07*x to the real estate agent.
she wants to make $140,000 after she had paid the real estate agent.
equation is:
x - .07*x = 140000
this becomes x * (1-.07) = 140000
this becomes x * .93 = 140000
divide both sides of this equation by .93 to get:
x = 140000 / .93 = 150537.6344
if she sells the house for that price, then the broker gets:
.07*150537.6344 = 10537.63441
selling price is 150537.6344
broker's commission is 10537.63441
150537.6344 - 10537.63441 = 140000.
your answer is:
she must sell the house for $150,537 in order to make $140,000, assuming the real estate agent gets 7% of the selling price.
Answer by richwmiller(17219)  (Show Source):
You can put this solution on YOUR website! Who is making the $140,000?
The seller or the agent?
If the seller:
.93*x=140000
x = $150538.00 for the seller to receive $140,000 the house must sell for $150,538
and the agent gets $10,538.00
If the agent:
.07y=140000
y = 2.*^6=$2,000,000.00
For the agent to make 140,000 the house must sell for 2 million dollars
and the seller gets 2,000,000-140,000
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