ANSWERS: 2
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You either know the sale price and want the cost price or the other way around. Either way there isn't enough information there to answer the question. The method is: net= sales - costs. So: $108373 = sale price - (0.06 * sale price) - (0.005 * sale price) - $7000 - $625 - $125 - $186353 - cost price This gives an equation which can be rearranged to find cost in terms of sale, or sale in terms of cost, depending what you know.
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(Conclusion) Because falling price of house, I had my money $ 62,156.3 stolen. Because simple addition of negative and positive. = [ (+108,373) - (+186,352) ] = [ (+108,373) + (-186,352) ] = [ (-186,352) + (+108,373) ] = [ (-186,352) - (-108,373) ] = [ (-77,979) ] = [ (+108,373) - (+186,352) ] = [ (+108,373) - { (+186,352) } ] = [ (+108,373) - { (+108,373) + (+77,979) } ] = [ (+108,373) - (+108,373) - (+77,979) ] = [ { (+108,373) - (+108,373) } - (+77,979) ] = [ { ( 0 ) } - (+77,979) ] = [ ( 0 ) - (+77,979) ] = [ ( 0 ) + (-77,979) ] = [ (-77,979) ] ( 0. ) Sale price : ? ( 1. ) Net earning: 108,373$ ( 2. ) Realestate Commission : 6% ( 3. ) Transfer tax : 0.5% (1/2%) ( 4. ) Closing costs : 7,000$ ( 5. ) Legal fees : 625$ ( 6. ) Fest insfection fee : 125$ ---------------------------- 7. Mortgage payment: 186,352$ ---------------------------------------------------------- Sale price ( 0. ) [^^^] = [ ( 1. ) + ( 2. ) + ( 3. ) + ( 4. ) + ( 5. ) + ( 6. ) = ( 0. ) ] = [ 108,373$ + 6% + 0.5% + 7,000$ + 625$ + 125$ ] = [ 108,373$ + 6% + 0.5% + 7,000$ + 625$ + 125$ ] = [ 116,123$ + 6.5% ] [^^^] = [ 116,123$ : 93.5% = X$ : 6.5% ] * (6% + 0.5%) = 6.5% = [ 116,123 : 93.5 = X : 6.5 ] = [ 93.5X = 116,123 X 6.5 ] = [ 93.5X = 754,799.5 ] = [ X = 754,799.5 / 93.5 ] = [ X = 8072.7 ] = [ 6.5% = 8072.7$ ] [^^^] = [ 116,123$ + 6.5% = ( 0. ) ] = [ 116,123$ + 8,072.7$ = ( 0. ) ] = [ 124,195.7$ = ( 0. ) ] ------------------------------------------------------------ [^^^] = [ (Leavings) ] = [ (124,195.7$) - (8,072.7$) - (7,000$) - (625$) - (125$) - (186,352$) ] = [ { (124,195.7$) - (8,072.7$) - (7,000$) - (625$) - (125$) } - (186,352$) ] = [ { (108,373$) } - (186,352$) ] = [ (108,373$) - (186,352$) ] = [ (+108,373$) + (-186,352$) ] = [ (-186,352$) + (+108,373$) ] = [ (-186,352$) - (-108,373$) ] = [ (-77,979$) ] = [ (-77,979) ] = [ (Debt 77,979$) ] [^^^] = [ (Leaving) ] = [ (+124,195.7) - (+8,072.7) - (+7,000) - (+625) - (+125) - (+186,352) ] = [ { (+124,195.7) - (+8,072.7) - (+7,000) - (+625) - (+125) } - (+186,352) ] = [ { (+108,373) } - (+186,352) ] = [ (+108,373) - (+186,352) ] = [ (+108,373) + (-186,352) ] = [ (-186,352) + (+108,373) ] = [ (-186,352) - (-108,373) ] = [ (-77,979) ] ---------------------------------------------------------- Mortgage payment : If, Mortgage(186,352$) = 100% [^^^] = [ 186,352$ : 100% = (Sale price 124,195.7$) : X% ] = [ 186,352 : 100 = 124,195.7 : X ] = [ 186,352X = 100 X 124,195.7 ] = [ 186,352X = 12,419,570 ] = [ X = 12,419,570 / 186,352 ] = [ X = 66.6 ] = [ 124,195.7$ = 66.6% ] Price of house is fall (-33.4%) [^^^] = [ 186,352$ - 124,195.7$ = 100% - 66.6% = 33.4% ] [^^^] = [ (Falling price of house) < Mortgage payment ] =[ (+124,195.7$) < (-186,352$) [^^^] = [ (+124,195.7$) + (-186,352$) ] = [ (-186,352$) + (+124,195.7$) ] = [ (-186,352$) - (-124,195.7$) ] = [ (-62,156.3$) ] -> I had my money $ 62,156.3 stolen.
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