Real Estate Math
A Vermont buyer makes a 10% down payment on a $280,000 home. What is the loan amount?
A$28,000
B$252,000✓ Correct
C$256,000
D$260,000
Explanation
10% down = 0.10 x $280,000 = $28,000. Loan amount = $280,000 - $28,000 = $252,000. To solve this, multiply the relevant values: $280,000 at 10%.. The correct answer is $252,000.. This is a common calculation on the Vermont real estate exam.
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