Real Estate Math
A South Carolina buyer makes a 20% down payment on a $310,000 home. What is their loan amount?
A$62,000
B$248,000✓ Correct
C$258,000
D$310,000
Explanation
Down payment = $310,000 × 20% = $62,000. Loan = $310,000 − $62,000 = $248,000.
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