Real Estate Math
A buyer purchases a home for $320,000 and makes a 10% down payment. What is the loan amount?
A$32,000
B$288,000✓ Correct
C$256,000
D$300,000
Explanation
Down payment = $320,000 × 0.10 = $32,000. Loan amount = $320,000 − $32,000 = $288,000. To solve this, multiply the relevant values: $320,000 at 10%.. The correct answer is $288,000.. This is a common calculation on the South Dakota real estate exam.
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