Real Estate Math (alternative)
A Maryland buyer purchases a condo for $280,000. They put 10% down. The loan amount is:
A$214,200✓ Correct
B$204,000
C$28,000
D$168,000
Explanation
Down payment = 10% × $280,000 = $28,000. Loan amount = $280,000 − $28,000 = $252,000.
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