Real Estate Math
A buyer pays $380,000 for a home and takes out an 80% LTV loan. How much is the down payment?
A$57,000
B$72,000
C$76,000✓ Correct
D$80,000
Explanation
Loan amount = $380,000 x 80% = $304,000. Down payment = $380,000 - $304,000 = $76,000 (20% of $380,000).
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