Real Estate Math
Real Estate Math Practice Question
What is the interest rate on a $200,000 loan requiring an annual interest payment of $8,000?
A
4.00%B
4.55%C
5.00%D
5.55%Explanation
Interest Rate = Annual Interest ÷ Principal = $8,000 ÷ $200,000 = 0.04 = 4%
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