Real Estate Math
A Minnesota buyer puts 10% down on a $340,000 home. How much is the down payment?
A$30,000
B$306,000✓ Correct
C$40,000
D$34,500
Explanation
Down payment = Purchase Price x Down Payment Percentage = $340,000 x 0.10 = $34,000. The loan amount would then be $340,000 - $34,000 = $306,000. Down payment calculations are fundamental to real estate finance and qualifying buyers.
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