Real Estate Math
A Washington property owner sells land for $280,000 on an installment sale. 30% is down and the balance is financed at 6% for 10 years. What is the initial down payment?
A$56,000
B$84,000✓ Correct
C$196,000
D$224,000
Explanation
Down payment = $280,000 × 30% = $84,000. To solve this, multiply the relevant values: $280,000 at 30%..
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