Real Estate Math
A Hawaii buyer's loan of $540,000 at 5% annual interest is an interest-only loan. What is the monthly interest payment?
AA. $2,250✓ Correct
BB. $2,700
CC. $2,000
DD. $2,500
Explanation
Monthly interest = $540,000 × 0.05 / 12 = $27,000 / 12 = $2,250. To solve this, multiply the relevant values: $540,000 at 5%.. The correct answer is A. $2,250.. This is a common calculation on the Hawaii real estate exam.
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