Real Estate Math
A Minnesota investment property is purchased for $500,000. The down payment is 25%. What is the loan amount?
A$125,000
B$375,000✓ Correct
C$400,000
D$350,000
Explanation
Down payment = $500,000 × 25% = $125,000. Loan amount = $500,000 - $125,000 = $375,000.
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