Real Estate Math
A buyer puts 20% down on a $300,000 home. What is the loan amount?
A$60,000
B$240,000✓ Correct
C$280,000
D$300,000
Explanation
Down payment = $300,000 × 20% = $60,000. Loan amount = $300,000 − $60,000 = $240,000. To solve this, multiply the relevant values: $300,000 at 20%.. The correct answer is $240,000.. This is a common calculation on the Arkansas real estate exam.
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