Real Estate Math
A Louisiana home appraised for $275,000. The buyer put 15% down. What is the loan amount?
A$233,750✓ Correct
B$247,500
C$253,000
D$220,000
Explanation
Down payment = $275,000 × 15% = $41,250. Loan amount = $275,000 − $41,250 = $233,750. To solve this, multiply the relevant values: $275,000 at 15%.. The correct answer is $233,750.. This is a common calculation on the Louisiana real estate exam.
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