Real Estate Math
A Nevada buyer puts 20% down on a $480,000 home. What is the loan amount?
A$384,000✓ Correct
B$360,000
C$400,000
D$96,000
Explanation
Down payment = 20% x $480,000 = $96,000. Loan amount = $480,000 - $96,000 = $384,000. To solve this, multiply the relevant values: $480,000 at 20%.. The correct answer is $384,000.. This is a common calculation on the Nevada real estate exam.
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