Real Estate Math
A Maine buyer pays $265,000 for a home and makes a 10% down payment. The loan amount is:
A$26,500
B$238,500✓ Correct
C$245,500
D$251,750
Explanation
Down payment = $265,000 × 10% = $26,500. Loan amount = $265,000 − $26,500 = $238,500. To solve this, multiply the relevant values: $265,000 at 10%.. The correct answer is $238,500.. This is a common calculation on the Maine real estate exam.
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