Finance
A buyer purchases a Kansas home for $250,000 with a 20% down payment. What is the loan amount?
A$50,000
B$200,000✓ Correct
C$225,000
D$230,000
Explanation
20% of $250,000 = $50,000 down payment. Loan amount = $250,000 - $50,000 = $200,000. To solve this, multiply the relevant values: $250,000 at 20%.. The correct answer is $200,000.. This is a common calculation on the Kansas real estate exam.
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