Real Estate Math
A Wyoming property is purchased for $350,000 with a 20% down payment. What is the loan amount?
A$70,000
B$280,000✓ Correct
C$300,000
D$315,000
Explanation
Down payment = $350,000 x 20% = $70,000. Loan amount = $350,000 - $70,000 = $280,000.
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