Real Estate Math
A buyer needs to deposit 3.5% of the purchase price as earnest money. The purchase price is $375,000. How much is the earnest money deposit?
A$11,250
B$12,500
C$13,125✓ Correct
D$13,500
Explanation
$375,000 × 0.035 = $13,125. To solve this, multiply the relevant values: $375,000 at 3.5%.. The correct answer is $13,125.. This is a common calculation on the Oregon real estate exam.
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