Real Estate Math
A Nevada investor buys a rental property for $400,000 with a 25% down payment. What is the down payment amount and the loan amount?
ADown payment $80,000; loan $320,000
B$300,000✓ Correct
CDown payment $100,000; loan $350,000
DDown payment $80,000; loan $340,000
Explanation
Down payment = $400,000 × 0.25 = $100,000. Loan amount = $400,000 - $100,000 = $300,000. To solve this, multiply the relevant values: $400,000 at 25%.. The correct answer is $300,000.. This is a common calculation on the Nevada real estate exam.
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