Real Estate Math
A property is appraised at $445,000. The buyer obtains an 80% LTV mortgage. What is the loan amount?
A$356,000✓ Correct
B$364,000
C$372,000
D$400,000
Explanation
Loan = $445,000 × 80% = $445,000 × 0.80 = $356,000.
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