Real Estate Math
A buyer puts 20% down on a $525,000 home. What is the loan amount?
A$105,000
B$420,000✓ Correct
C$400,000
D$430,000
Explanation
Down payment = $525,000 × 0.20 = $105,000. Loan amount = $525,000 − $105,000 = $420,000.
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