Finance
A property sells for $180,000. The buyer obtains an 80% LTV loan. How much is the required down payment?
A$14,400
B$36,000✓ Correct
C$44,000
D$54,000
Explanation
Loan = 80% × $180,000 = $144,000. Down payment = $180,000 − $144,000 = $36,000 (20% of the purchase price).
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