Real Estate Math
A Washington buyer qualifies for a 30-year loan at 7.25%. The payment factor per $1,000 is $6.82. The maximum loan amount if the maximum monthly P&I is $2,250 is approximately:
A$315,000
B$330,000✓ Correct
C$335,000
D$280,500
Explanation
Max loan = ($2,250 ÷ $6.82) × $1,000 = 329.
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