Real Estate Math
An investor purchases a Philadelphia rental property for $400,000 with 25% down. The down payment amount is:
A$75,000
B$300,000✓ Correct
C$80,000
D$125,000
Explanation
Down payment = Purchase Price × Down Payment Percentage = $400,000 × 25% = $100,000. The mortgage amount would be $400,000 − $100,000 = $300,000.
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