Finance
A Wyoming buyer purchases a $425,000 ranch property with a 25% down payment. What is the loan amount?
A$275,000
B$300,000
C$318,750✓ Correct
D$340,000
Explanation
Down payment = $425,000 × 25% = $106,250. Loan amount = $425,000 − $106,250 = $318,750.
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