Real Estate Math
A property in Indiana sold for $285,000. The buyer paid 10% down and financed the rest at 6.5% for 30 years. What was the loan amount?
A$28,500
B$256,500✓ Correct
C$265,000
D$271,750
Explanation
Down payment = $285,000 × 0.10 = $28,500.
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