Finance
A Wisconsin buyer purchases a home for $350,000 with a 20% down payment. What is the loan amount?
A$245,000
B$280,000✓ Correct
C$315,000
D$330,000
Explanation
Down payment = $350,000 × 20% = $70,000. Loan amount = $350,000 − $70,000 = $280,000.
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