Real Estate Math
A property has a purchase price of $300,000. The buyer puts 20% down. The bank charges $2,400 in origination fees. What is the total cash the buyer needs to bring to closing (down payment + origination fees, ignoring all other costs)?
A$60,000
B$62,400✓ Correct
C$63,000
D$66,000
Explanation
Down payment = $300,000 × 20% = $60,000. Total cash (down payment + origination fees) = $60,000 + $2,400 = $62,400.
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