Question 4143
<pre>Elena must get at least $120,000 for her house in order to break
even with the original mortgage. If the real estate agent gets 6% 
of the selling price, then what should the selling price be? I 
tried to use your example link for this question, but the link 
errors out. Need help in setting up the variables for the equation.
Thanks

Let $S = the selling price

>>...the real estate agent gets 6% of the selling price...<<

So the real estate agent gets $0.06S, meaning that Elena gets
$S - $0.06S.

>>...Elena must get at least $120,000...<<

So 

$S - $0.06S = $12000 (or more)

  1S - .06S = 12000  
1.00S - .06S = 12000
        .96S = 12000
           S = 12000/.96
           S = $12500

Edwin