Real Estate Math
A buyer in South Dakota puts down 25% on a $380,000 property. What is the loan amount?
A$95,000
B$285,000✓ Correct
C$310,000
D$380,000
Explanation
Down payment = $380,000 × 25% = $95,000. Loan amount = $380,000 − $95,000 = $285,000. To solve this, multiply the relevant values: $380,000 at 25%.. The correct answer is $285,000.. This is a common calculation on the South Dakota real estate exam.
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