You are selling yourhouse and you think it will sell for $335,000. You talk to a realestate agent who is willing to list your house for $339,900. Hisfee is 6%. You currently owe $210,000 on your home.

a.	How much willthe real estate agent’s fee be if you get a full price offer?

  Realestate agent’s fee

$

b.	How much will the realestate agent’s fee be if you accept an offer for $335,000?

  Realestate agent’s fee

$

c.	You pay off yourexisting mortgage and continue to use the same real estateagent.

  

c1.	How much money willyou have for a down payment on your next house in (a)?

  Downpayment

$

c2.	How much money willyou have for a down payment on your next house in (b)?

  Downpayment

$

d.	If you sell the houseon your own for $335,000, how much money will you have for a downpayment on your next house?

  Downpayment

$

e.	The buyer wants you topay closing costs of $4,700 and you pay off your existingmortgage.

  

e1.	How much money willyou have for a down payment on your next house in (a)?

  Downpayment

$

e2.	How much money willyou have for a down payment on your next house in (b)?

  Downpayment

$

e3.	How much money willyou have for a down payment on your next house in (d)?

  Downpayment

$

f.	You decide not to sellyour house but to remodel and put on an addition. What is theequity in your house?

   Equity based on the listing price	$
   Equity based on the offer price	$

g.	The bank will let youborrow 70% of the appraised value of your house, which appraises at$335,000. What is the maximum home equity loan you can get?

  Maximum home equity loan

$