Real Estate Math
A Tennessee property is purchased for $440,000 with a 25% down payment. What is the mortgage amount?
A$330,000✓ Correct
B$110,000
C$360,000
D$380,000
Explanation
Down payment = $440,000 × 25% = $110,000. Mortgage = $440,000 − $110,000 = $330,000. To solve this, multiply the relevant values: $440,000 at 25%.. The correct answer is $330,000.. This is a common calculation on the Tennessee real estate exam.
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