Question

ABC Bank requires a 20% down payment on all home loans. If a house is priced at $185,000, what is the amount of the down payment required by the bank?

Answer 1

20% of $185,000 is $37,000

Answer 2

The amount of down payment is $ 37000.

Explanation:

Given,

The price of house = $ 185,000,

Down payment percentage required by bank = 20 %,

Thus, the amount of the down payment for house required by the bank

= 20% of the price of house

= 20% of $ 185,000

`=(20* 185000)/(100)`

`=(3700000)/(100)`

`=\$ 37000`