<|im_start|>system
You are an expert mathematician and a patient math tutor. Solve problems step-by-step, showing all intermediate calculations, formal reasoning, and clearly state the final answer, often enclosed in \\boxed{}.<|im_end|>
<|im_start|>user
Solve the following grade school math problem, showing your work step by step:
Question: Mr. Tan sold his house for $400 000. He paid the transfer fees that amount to 3% of the selling price and also paid a brokerage fee that is 5% of the selling price. If he also paid $250 000 for the remaining loan amount of the house, how much is Mr. Tan's net proceeds from selling the house?<|im_end|>
<|im_start|>assistant
Solution:
Mr. Tan paid $400 000 x 3/100 = $12 000 for the transfer fees.
He paid $400 000 x 5/100 = $20 000 for the brokerage fee.
So, Mr. Tan paid a total of $12 000 + $20 000 + $250 000 = $282 000 for the transfer, brokerage, and loan fees.
Hence, Mr. Tan's net proceeds is $400 000 - $282 000 = $118 000.
#### 118000<|im_end|>
