Real Estate Math
A buyer's total closing costs are estimated at 3% of the purchase price of $450,000. How much should the buyer budget for closing costs?
A$4,500
B$13,500✓ Correct
C$22,500
D$45,000
Explanation
Closing costs = $450,000 × 3% = $450,000 × 0.03 = $13,500.
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