Real Estate Math
A buyer puts 15% down on a $340,000 home. What is the loan amount?
A$289,000✓ Correct
B$245,650
C$294,000
D$306,000
Explanation
Down payment = $340,000 × 15% = $51,000. Loan = $340,000 − $51,000 = $289,000. To solve this, multiply the relevant values: $340,000 at 15%.. The correct answer is $289,000.. This is a common calculation on the Alabama real estate exam.
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