Real Estate Math
A property is purchased for $375,000 with a 5% down payment. What is the loan amount?
A$18,750
B$337,500
C$356,250✓ Correct
D$393,750
Explanation
Down payment = $375,000 × 0.05 = $18,750. Loan amount = $375,000 - $18,750 = $356,250.
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