Real Estate Math
A Mississippi buyer puts 20% down on a $250,000 home. The mortgage loan amount is:
A$50,000
B$200,000✓ Correct
C$210,000
D$225,000
Explanation
Down payment = $250,000 × 20% = $50,000. Loan amount = $250,000 − $50,000 = $200,000.
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