Real Estate Math
A Salem, Oregon property sells for $385,000. The buyer puts down 10%. What is the loan amount?
A$38,500
B$346,500✓ Correct
C$350,000
D$323,000
Explanation
The down payment is 10% × $385,000 = $38,500. The loan amount = $385,000 − $38,500 = $346,500. To solve this, multiply the relevant values: $385,000 at 10%.. The correct answer is $346,500.. This is a common calculation on the Oregon real estate exam.
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