Real Estate Math
A Montana investor purchases a property for $320,000 with a 25% down payment. What is the mortgage amount?
A$80,000
B$240,000✓ Correct
C$256,000
D$300,000
Explanation
Down payment = $320,000 × 25% = $80,000. Mortgage amount = $320,000 − $80,000 = $240,000.
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