Real Estate Math
A buyer purchases a Connecticut property for $325,000 and puts 20% down. What is the loan amount?
A$65,000
B$260,000✓ Correct
C$280,000
D$325,000
Explanation
Down payment = $325,000 × 20% = $65,000. Loan amount = $325,000 − $65,000 = $260,000. To solve this, multiply the relevant values: $325,000 at 20%.. The correct answer is $260,000.. This is a common calculation on the Connecticut real estate exam.
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