Finance
An Alaska property sells for $350,000. The buyer makes a 20% down payment and finances the rest. What is the loan amount?
A$70,000
B$280,000✓ Correct
C$300,000
D$315,000
Explanation
20% of $350,000 = $70,000 down payment. Loan amount = $350,000 − $70,000 = $280,000.
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