To determine how much money in pounds Craig will receive from the sale of his house after paying the costs, follow these steps:
1. Calculate the total costs in euros:
- The selling price of the house is €85,000.
- The costs are 17.5% of the selling price.
[tex]\[
\text{Total costs in euros} = \text{Selling price} \times \text{Cost percentage}
\][/tex]
[tex]\[
\text{Total costs in euros} = 85000 \times 0.175 = 14875 \text{ euros}
\][/tex]
2. Calculate the amount Craig will receive after costs in euros:
- Subtract the total costs from the selling price.
[tex]\[
\text{Amount received in euros} = \text{Selling price} - \text{Total costs}
\][/tex]
[tex]\[
\text{Amount received in euros} = 85000 - 14875 = 70125 \text{ euros}
\][/tex]
3. Determine the median of the exchange rates:
The exchange rates given are:
[tex]\[
0.852, 0.855, 0.848, 0.819, 0.851
\][/tex]
First, sort these rates:
[tex]\[
0.819, 0.848, 0.851, 0.852, 0.855
\][/tex]
The median is the middle value in the sorted list:
[tex]\[
\text{Median exchange rate} = 0.851
\][/tex]
4. Convert the amount received from euros to pounds using the median exchange rate:
[tex]\[
\text{Amount received in pounds} = \text{Amount received in euros} \times \text{Median exchange rate}
\][/tex]
[tex]\[
\text{Amount received in pounds} = 70125 \times 0.851 = 59676.375 \text{ pounds}
\][/tex]
Thus, Craig will receive:
[tex]\[
£59676.375
\][/tex]
