Real Estate Math
A Michigan investor purchases a property for $300,000 with a 25% down payment. What is the loan amount?
A$75,000
B$225,000✓ Correct
C$250,000
D$200,000
Explanation
Down payment = 25% x $300,000 = $75,000. Loan = $300,000 - $75,000 = $225,000. To solve this, multiply the relevant values: $300,000 at 25%.. The correct answer is $225,000.. This is a common calculation on the Michigan real estate exam.
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