Suppose that 10 years ago you bought a home for $130,000 paying 10% as a down payment, and financing the rest at 9% interest for 30 years. How much money was your existing loan for.

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asked Mar 8, 2022 203k views

8 votes

Suppose that 10 years ago you bought a home for $130,000 paying 10% as a down payment, and financing the rest at 9% interest for 30 years. How much money was your existing loan for.

Mathematics
high-school

YogeshWaran asked

by YogeshWaran

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1 Answer

7 votes

Answer:

13,000

Explanation:

10% of the original purchase price of $130,000.

130,000 x .10 = 13,000

Mark Fitzpatrick answered Mar 15, 2022

by Mark Fitzpatrick

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