Real Estate Math
A buyer makes a $15,000 earnest money deposit on a $375,000 home. What percentage of the purchase price is the deposit?
A3%
B4%✓ Correct
C5%
D6%
Explanation
$15,000 ÷ $375,000 = 0.04 = 4%. Using the values given ($15,000, $375,000), apply the appropriate formula.. The correct answer is 4%.. This is a common calculation on the Arizona real estate exam.
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