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iragen [17]
3 years ago
15

Seller Andy require a 2.5% deposit on all offers. Buyer josh wants to offer $452,000 for the property. The property was appraise

d at $465,000. What must the earnest money deposit be if Josh presents his current offer?
Mathematics
1 answer:
arlik [135]3 years ago
7 0

Answer: $11,300

Step-by-step explanation:

Given the following :

Buyer Josh's offering price = $452,000

Required deposit rate = 2.5%

Earnest money deposit is the product of :

Offering price × required deposit accepted

$452,000 × 2.5%

$452,000 × 0.025 = $11,300

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