Real Estate Math
A Delaware home's appraised value is $385,000. The buyer puts 20% down and finances the rest at 30 years, 5.5%. What is the loan amount?
A$290,000
B$308,000✓ Correct
C$280,000
D$295,000
Explanation
Down payment = $385,000 × 0.20 = $77,000.
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