Real Estate Math
A NH investor purchases a property for $450,000 and takes out a mortgage for 75% of the value. What is the loan amount?
A$337,500
B$360,000
C$300,000
D$112,500✓ Correct
Explanation
Loan amount = 75% × $450,000 = 0.75 × $450,000 = $337,500.
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