Real Estate Math
In South Dakota, a $250,000 property has a 70% LTV loan. The buyer's down payment is:
A$70,000
B$75,000✓ Correct
C$105,000
D$175,000
Explanation
Loan amount = $250,000 × 70% = $175,000. Down payment = $250,000 − $175,000 = $75,000. To solve this, multiply the relevant values: $250,000 at 70%.. The correct answer is $75,000.. This is a common calculation on the South Dakota real estate exam.
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