Question

Question 5 of 25

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?
A. $370,000
OB. $82,500
OC. $37,000
OD. $18,500
SUBMIT

Answer 1

The amount of the down payment required by ABC Bank is $37,000.

Step-by-step explanation:

To find the amount of the down payment required by the bank, you need to multiply the house price by the down payment percentage. In this case, the down payment percentage is 20%. So, 20% of $185,000 can be calculated as:

Down payment amount = 20% * $185,000 = $37,000

Therefore, the amount of the down payment required by the bank is $37,000.

Learn more about Calculating down payment