Real Estate MathInterest CalculationsEASY
$280,000 loan, 5% annual, first month interest:
Correct Answer
B) $1,167
$280,000 × 0.05 ÷ 12 = $1,166.67 ≈ $1,167.
Answer Options
A
$933B
$1,167C
$1,400D
$1,750Why This Is the Correct Answer
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Background Knowledge for Real Estate Math
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Related Topics & Key Terms
Related Topics:
amortization
Key Terms:
interest$1,1675%
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