Question

ABC Bank requires a 20% down payment on all its home loans. If the house is

priced at $145,000, what is the amount of the down payment required by the
bank?
A. $18,000
B. $290,000
• C. $29,000
D. $14,500

Answer 1

c. $29,000

Explanation:

since 20% of 145,000 = 29,000

to calculate use

(20/100) * 145,000

or

(y/100) * x

y = the precentage

x = the price of the house

therefore your answer is c. $29,000

hope this helps:)