Real Estate Math

A Massachusetts buyer makes a $30,000 deposit on a $600,000 home. What percentage is the deposit of the purchase price?

A5%✓ Correct

B4%

C6%

D3%

Explanation

Deposit percentage = $30,000 ÷ $600,000 = 0.05 = 5%. Using the values given ($30,000, $600,000), apply the appropriate formula.. The correct answer is 5%.. This is a common calculation on the Massachusetts real estate exam.

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