Real Estate Math
A Virginia buyer puts 20% down on a $450,000 home. What is the loan amount?
A$90,000
B$360,000✓ Correct
C$380,000
D$400,000
Explanation
Down payment = $450,000 × 20% = $90,000. Loan amount = $450,000 – $90,000 = $360,000. To solve this, multiply the relevant values: $450,000 at 20%.. The correct answer is $360,000.. This is a common calculation on the Virginia real estate exam.
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