Real Estate Math
A property is purchased for $185,000. The buyer finances 80% with a mortgage. What is the down payment?
A$37,000
B$14,800
C$148,000✓ Correct
D$18,500
Explanation
Down payment = $185,000 × 20% = $37,000. Loan amount = $185,000 × 80% = $148,000. To solve this, multiply the relevant values: $185,000 at 80%.. The correct answer is $148,000.. This is a common calculation on the Nebraska real estate exam.
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