Real Estate Math
A Hawaii investor finances $700,000 at 6.5% interest annually. What is the annual interest payment (interest only)?
AA. $42,000
BB. $45,500✓ Correct
CC. $49,000
DD. $39,000
Explanation
$700,000 × 0.065 = $45,500 annual interest. To solve this, multiply the relevant values: $700,000 at 6.5%.. The correct answer is B. $45,500.. This is a common calculation on the Hawaii real estate exam.
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