Real Estate Math
A buyer in Cheyenne purchased a home for $275,000 with a 10% down payment. What is the loan amount?
A$27,500
B$247,500✓ Correct
C$250,000
D$267,500
Explanation
Down payment = $275,000 × 10% = $27,500. Loan amount = $275,000 − $27,500 = $247,500.
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