Real Estate Math
A Washington buyer's closing costs are 3% of the purchase price. The home costs $490,000 with 10% down. What are the approximate closing costs?
A$13,230
B$14,700✓ Correct
C$15,300
D$16,700
Explanation
Closing costs = $490,000 × 3% = $14,700. (Closing costs percentage applies to the purchase price, not just the loan amount in this case.)
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