Real Estate Math
A home is purchased for $180,000. The buyer makes a 10% down payment. What is the loan amount?
A$144,000
B$162,000✓ Correct
C$165,000
D$172,000
Explanation
Down payment = $180,000 × 0.10 = $18,000.
Related Arkansas Real Estate Math Questions
- An agent receives a 30% referral fee from their broker on a $9,000 commission. How much does the agent receive?
- A property has a market value of $450,000. It is assessed at 20% of market value, and the tax rate is 45 mills. What are the annual property taxes?
- A buyer obtains a $200,000 mortgage at 6% annual interest. What is the first month's interest payment?
- A 1031 (like-kind) exchange requires the replacement property to be identified within how many days of the sale?
- A buyer puts 20% down on a $250,000 home and finances the rest at 7% annual interest. What is the first month's interest?
- A buyer puts 20% down on a $300,000 home. What is the loan amount?
- A buyer borrows $240,000 at 5.5% annual interest. What is the total interest for the first year (simple interest, no amortization)?
- A buyer takes a $200,000 loan at 6% annual interest. What is the first month's interest payment?
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →