Real Estate Math

A buyer puts 20% down on a $375,000 home in Carmel, Indiana. What is the loan amount?

A$75,000

B$300,000✓ Correct

C$325,000

D$350,000

Explanation

Down payment = 20% × $375,000 = $75,000. Loan amount = $375,000 − $75,000 = $300,000. To solve this, multiply the relevant values: $375,000 at 20%.. The correct answer is $300,000.. This is a common calculation on the Indiana real estate exam.

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