Real Estate Math
A buyer in Washington purchases a home for $480,000 with a 15% down payment. What is the loan amount?
A$390,000
B$408,000✓ Correct
C$432,000
D$450,000
Explanation
Down payment = $480,000 × 15% = $72,000. Loan amount = $480,000 − $72,000 = $408,000. To solve this, multiply the relevant values: $480,000 at 15%.. The correct answer is $408,000.. This is a common calculation on the Washington real estate exam.
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