Max is buying a home worth $250,000. He will pay 3 percent in closing costs and 12 percent for a down payment. Calculate how much he will pay for each of these one-time fees.
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He will have to pay $7,500 as closing costs and $30,000 as down payment.
He will have to pay $30,000 as closing costs and $7,500 as down payment.
He will have to pay $3,000 as closing costs and $75,000 as down payment.