At what price must Jane's house sell in order to net $150,000 after paying 6% commission and $4,200 in closing costs?

To determine the selling price necessary for Jane to net $150,000 after paying a 6% commission and $4,200 in closing costs, we can use the following formula:

Let ( P ) be the selling price.

First, consider the costs:

1. The commission is 6% of the selling price, which we can express as ( 0.06P ).
2. The closing costs are a fixed amount of $4,200.

To find out how much Jane will actually net after these expenses, we can set up the equation:

Net amount = Selling price - Commission - Closing costs

This can be expressed as:

$150,000 = ( P - 0.06P - 4,200 )

By simplifying the equation, we recognize that ( P - 0.06P ) is equivalent to ( 0.94P ):

$150,000 = ( 0.94P - 4,200 )

Next, we need to add the closing costs back to the net amount:

$150,000 + $4,200 = 0.94P

This simplifies to:

$154,200 = 0.94P

To isolate ( P ),