Finance
A Georgia buyer makes a 10% down payment on a $300,000 home. What is the loan amount?
A$270,000✓ Correct
B$280,000
C$290,000
D$300,000
Explanation
10% of $300,000 = $30,000 down payment. Loan amount = $300,000 − $30,000 = $270,000. To solve this, multiply the relevant values: $300,000 at 10%.. The correct answer is $270,000.. This is a common calculation on the Georgia real estate exam.
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