Real Estate Math
An investor bought a rental property for $200,000 and finances it with a 20% down payment. What is the loan amount?
A$140,000
B$150,000
C$160,000✓ Correct
D$180,000
Explanation
Down payment = $200,000 × 0.20 = $40,000. Loan amount = $200,000 − $40,000 = $160,000. To solve this, multiply the relevant values: $200,000 at 20%.. The correct answer is $160,000.. This is a common calculation on the Iowa real estate exam.
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