Question

Barney and Betty buy a home. They plan to make a down payment and carry a $101,000 mortgage. Closing costs are $3,750 and are added to the loan amount. What is the new amount being financed?

Answer 1

You have the information
$101,000 - mortgage
$3,750 - Closing costs

Answer 2

So basically all you're doing is using the formula ;
\(Mortgage+Closing\ Cost\)
then you'll have your new amount

Answer 3

\(\color{#0cbb34}{\text{Originally Posted by}}\) @supie
So all you're doing is adding the mortgage(101,000) and closing costs (3,750)
which is \(101,000+3,750\).
So find what that equals
then you'll have the new amount being financed
which is your answer
(You can use a caluclator also[or the QC calculator feature below])
\(\color{#0cbb34}{\text{End of Quote}}\)
Calculator*