Real Estate Math
A Missouri property sold for $285,000. The buyer paid 20% down and financed the rest. What was the loan amount?
A$57,000
B$228,000✓ Correct
C$240,000
D$256,500
Explanation
Down payment = $285,000 x 20% = $57,000. Loan amount = $285,000 - $57,000 = $228,000. To solve this, multiply the relevant values: $285,000 at 20%.. The correct answer is $228,000.. This is a common calculation on the Missouri real estate exam.
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