An owner lists his home and agrees to pay a 6% commission provided he nets $10,000 after paying the commission and the balance of his mortgage, which is $75,000. To the nearest dollar, what should the selling price be to net the owner his $10,000?
a. 79787
b. 90426
c. 80189
d. 90100

You want the selling price that will net a homeowner $10,000 after paying a 6% commission and the balance of $75,000 on his mortgage.

Net

Let p represent the selling price. The amount the homeowner will receive can be described by ...

p -6%·p -75000 = 10000

Simplifying gives ...

0.94p = 85000

p = 85000/0.94 ≈ 90426

The selling price should be about 90426, choice B.

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An owner lists his home and agrees to pay a 6% commission provided he nets $10,000 after paying the commission and the balance of his mortgage, which is $75,000. To the nearest dollar, what should the selling price be to net the owner his $10,000? a. 79787b. 90426 c. 80189 d. 90100

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An owner lists his home and agrees to pay a 6% commission provided he nets $10,000 after paying the commission and the balance of his mortgage, which is $75,000. To the nearest dollar, what should the selling price be to net the owner his $10,000?
a. 79787
b. 90426
c. 80189
d. 90100