We need to calculate how much is 3% out of $258,250.00. (the cost of the home).
To calculate any percentage, what we need to do is divide the quantity by 100, and multiply the result by the percentage we want. In this case:
[tex]\frac{$258,250$}{100}\times3[/tex]divide $258,250 by 100 and multiply by 3.
the result of this will be:
[tex]\frac{$258,250$}{100}\times3=7,747.5[/tex]Answer: 7
