catherinemulli
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If a home buyer puts 20% down on a $200,000 house and uses a mortgage to borrow the rest, how much will the mortgage be (excluding any closing costs)? $160,000
$200,000
$180,000
$240,000

Respuesta :

MissPhiladelphia
When the home buyer gives the downpayment, that could be calcualted this way:

$200000(0.2) = $40000

The rest would be for the mortgage. So, just subtract the downpayment from the original purchase price

$200,000 - $40000 =$160,000

Thus, the answer is $160,000. 

I hope I was able to help you. Have a good day.

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