Real Estate Math
A Kentucky duplex was purchased for $180,000 with 25% down. What is the mortgage amount?
A$112,500
B$135,000✓ Correct
C$148,500
D$162,000
Explanation
Down payment = $180,000 × 25% = $45,000. Mortgage = $180,000 − $45,000 = $135,000. To solve this, multiply the relevant values: $180,000 at 25%.. The correct answer is $135,000.. This is a common calculation on the Kentucky real estate exam.
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