The home that you are interested in purchasing is listed at $85,000. In order to get financing, you have to place a 5% down payment. From the given information, determine the amount of the down payment.
a.
$42,500
c.
$425
b.
$4,250
d.
$85,000

Question

The home that you are interested in purchasing is listed at $85,000. In order to get financing, you have to place a 5% down payment. From the given information, determine the amount of the down payment.
a.
$42,500
c.
$425
b.
$4,250
d.
$85,000

yoloshroom · Answer

to find the down payment, you'd multiply 85k by .05 (bcause 5%) and then you'd get 4,250 which would be the 5% downpayment irght?

anonymous · Answer

b. $4,250
85,000x5%=4,250