Real Estate Math

A West Virginia property is purchased for $180,000 with a 10% down payment. What is the loan amount?

A$18,000

B$162,000✓ Correct

C$170,000

D$198,000

Explanation

Down payment = $180,000 × 10% = $18,000. Loan amount = $180,000 - $18,000 = $162,000.

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