Real Estate Math
A Texas investor purchases a rental property for $350,000 with a 25% down payment. What is the loan amount?
A$262,500✓ Correct
B$270,000
C$280,000
D$300,000
Explanation
Down payment = $350,000 × 0.25 = $87,500. Loan amount = $350,000 − $87,500 = $262,500.
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