Real Estate Math
A buyer puts 20% down on a $375,000 home and finances the rest. What is the loan amount?
A$75,000
B$285,000
C$300,000✓ Correct
D$325,000
Explanation
Down payment = $375,000 × 20% = $75,000. Loan amount = $375,000 − $75,000 = $300,000. To solve this, multiply the relevant values: $375,000 at 20%.. The correct answer is $300,000.. This is a common calculation on the Delaware real estate exam.
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