Question

Lucy and Ricky buy a home. They plan to make a down payment and carry an $82,500 mortgage. Closing costs are $2,000 and are added to the loan amount. What is the new amount being financed?

a) $80,500
b) $84,500
c) $78,500

Answer 1

The awnser is b um I won't say anything else

Answer 2

The correct answer is option B $84500

Explanation:

Total amount of the mortgage = $82500

Closing costs that are added to the loan amount = $2000

So, the complete amount becomes =
`82500+2000=84500` (mortgage and closing costs are always added)

Hence, the complete new amount that will be financed will be $84,500.