Real Estate Math
A buyer in Arizona purchases a home for $420,000 with a 20% down payment. What is the amount of the buyer's mortgage loan?
A$84,000
B$336,000✓ Correct
C$320,000
D$380,000
Explanation
Down payment = $420,000 × 20% = $84,000. Loan amount = $420,000 − $84,000 = $336,000. To solve this, multiply the relevant values: $420,000 at 20%.. The correct answer is $336,000.. This is a common calculation on the Arizona real estate exam.
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