Real Estate Math
An Indiana investor purchased a warehouse for $600,000 with a 25% down payment. What was the loan amount?
A$150,000
B$450,000✓ Correct
C$480,000
D$500,000
Explanation
Down payment = 25% × $600,000 = $150,000. Loan amount = $600,000 − $150,000 = $450,000.
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