If Tom wants to net $90,000 from the sale of his property after paying a 7% commission, $250 in closing costs, and $300 to the attorney, what price should he list the property for?

To determine the correct listing price of the property, it's crucial to account for all the costs associated with the sale and Tom's desired net amount. Tom wants to net $90,000 after selling the property.

First, we need to include the commissions and closing costs in the calculations. The commission is a percentage of the selling price, while the closing costs and attorney fees are fixed expenses.

Let’s denote the selling price of the property as "P."

1. The total commissions he will pay on the sale amount will be 7% of P, computed as 0.07P.
2. Additionally, Tom has fixed costs of $250 in closing costs and $300 for the attorney, which adds up to $550.

Now, we can express Tom's net proceeds after all deductions are taken into account like this:

Net proceeds = Selling Price - (Commission + Closing Costs + Attorney Fees).

Replacing this with the respective amounts, we can set up the equation:

90,000 = P - (0.07P + 550).

To solve for P, we first combine the terms involving P:

90,000 = P - 0.07P - 550, 90,000 = 0.93P -