Real Estate Math
A buyer makes an earnest money deposit of 2% of the $315,000 purchase price. How much is the earnest money?
A$5,250
B$6,300✓ Correct
C$6,925
D$7,000
Explanation
Earnest money = $315,000 × 2% = $6,300. To solve this, multiply the relevant values: $315,000 at 2%.. The correct answer is $6,300.. This is a common calculation on the Ohio real estate exam.
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