Real Estate Math
A North Dakota home sells for $268,500. The buyer pays 3.5% down (FHA). What is the loan amount?
A$258,999
B$259,002✓ Correct
C$268,500
D$250,000
Explanation
Down payment = $268,500 × 3.5% = $9,397.50. Loan amount = $268,500 - $9,397.50 = $259,102.50. The50.
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