Real Estate Math
A Maryland buyer purchases a home for $465,000 with a 20% down payment. The loan amount is:
A$93,000
B$372,000✓ Correct
C$395,000
D$465,000
Explanation
Down payment = $465,000 × 20% = $93,000. Loan = $465,000 – $93,000 = $372,000. To solve this, multiply the relevant values: $465,000 at 20%.. The correct answer is $372,000.. This is a common calculation on the Maryland real estate exam.
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