Real Estate Math
A home sells for $198,000. The buyer's loan is $158,400. What is the down payment percentage?
A15%
B20%✓ Correct
C25%
D10%
Explanation
Down payment = $198,000 − $158,400 = $39,600. Down payment % = $39,600 ÷ $198,000 = 20%. Using the values given ($198,000, $158,400), apply the appropriate formula.. The correct answer is 20%.. This is a common calculation on the Tennessee real estate exam.
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