Real Estate Math
A buyer places an earnest money deposit of $7,500. The purchase price is $375,000. What percentage of the purchase price is the earnest money?
A1%
B2%✓ Correct
C3%
D5%
Explanation
Earnest money percentage = $7,500 ÷ $375,000 = 0.02 = 2%. Using the values given ($7,500, $375,000), apply the appropriate formula.. The correct answer is 2%.. This is a common calculation on the Georgia real estate exam.
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