Real Estate Math
A North Dakota buyer makes a $5,000 earnest money deposit on a $295,000 home. The deposit represents what percentage of the purchase price?
A1.36%
B1.69%✓ Correct
C1.7%
D2%
Explanation
Percentage = $5,000 / $295,000 = 0.01695 ≈ 1.69%. Using the values given ($5,000, $295,000), apply the appropriate formula.. The correct answer is 1.69%.. This is a common calculation on the North Dakota real estate exam.
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