Exam (elaborations)
Maine Real Estate Exam Questions with Complete Answers
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Ten acres of land sold for $100,000 and the borrower had a 5% down payment. The property appraised for $95,000 and the lender charged 9% interest on a 10-year loan. How much interest is the lender paid the first month? - Answer-$95000 x .95 = $90,250 x .09 = 8122.5 / 12 = $676.88 In the first qu...
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