Finance
A property sells for $325,000. The buyer obtains a conventional loan with 20% down. What is the loan amount?
A$65,000
B$245,000
C$260,000✓ Correct
D$280,000
Explanation
Down payment = $325,000 × 20% = $65,000. Loan amount = $325,000 − $65,000 = $260,000.
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