Real Estate Math
A Massachusetts property sells for $450,000. The buyer puts down 20% and the lender requires title insurance of 0.5% of the loan amount. What is the cost of title insurance?
A$1,800✓ Correct
B$2,250
C$900
D$4,500
Explanation
Loan = $450,000 × 80% = $360,000. Title insurance = $360,000 × 0.
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