Real Estate Math
A buyer in Great Falls puts 20% down on a $240,000 home. What is the loan amount?
A$48,000
B$192,000✓ Correct
C$216,000
D$200,000
Explanation
Down payment = $240,000 x 0.20 = $48,000. Loan amount = $240,000 - $48,000 = $192,000. To solve this, multiply the relevant values: $240,000 at 20%.. The correct answer is $192,000.. This is a common calculation on the Montana real estate exam.
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