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6 August, 21:20

Mr. and mrs. donahue want to buy a home valued at $365,000. if they have 21.5% of this amount saved for a down payment, how much will their home loan be?

a. $78,475

b. $286,525

c. $341,275

d. $357,153

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Answers (1)
  1. 7 August, 01:07
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    Their home loan will be b) $286,525 based on the loan value and the down payment amount. A debtor only pays the remaining loan value after it has subtracted by the downpayment. Mr. and Mrs. Donahue have already paid $78,745 (21.5%*$365,000) for the loan downpayment, therefore, they only have to pay the $286,525 ($365,000-$78,745) remaining value of the home loan.
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Home » Business » Mr. and mrs. donahue want to buy a home valued at $365,000. if they have 21.5% of this amount saved for a down payment, how much will their home loan be? a. $78,475 b. $286,525 c. $341,275 d. $357,153
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