Answer: In this example, Kasey might expect to pay a range of $415,000 at the closing.
Step-by-step explanation:o find the range of costs Kasey might expect to pay at the closing, we need to calculate the down payment and subtract it from the selling price of the house.
Given that Kasey had to make a down payment of 17% of the selling price and was approved for a $255,000 mortgage, we can determine the selling price of the house.
Let's calculate the down payment first:
Down payment = 17% of selling price
Next, we can subtract the down payment from the selling price to find the range of costs Kasey might expect to pay at the closing:
Range of costs = Selling price - Down payment
For example, if the selling price of the house is $500,000, the down payment would be:
Down payment = 17% of $500,000 = 0.17 * $500,000 = $85,000
The range of costs Kasey might expect to pay at the closing would be:
Range of costs = $500,000 - $85,000 = $415,000
Therefore, in this example, Kasey might expect to pay a range of $415,000 at the closing.
Note that the actual range of costs will depend on the selling price of the house. You can calculate the range of costs for different selling prices by substituting the appropriate values into the formulas above.