Real Estate Math
A Mississippi property sells for $225,000. The buyer pays 20% down. What is the loan amount?
A$45,000
B$180,000✓ Correct
C$160,000
D$200,000
Explanation
Down payment = $225,000 × 20% = $45,000. Loan amount = $225,000 − $45,000 = $180,000.
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