Question

A house sells for $175,000 and a 20% down payment is made a mortgage was secured at 5.6% for 25 years round to the nearest cent if necessary

Answer 1

The downpayment is $35,000

EXPLANATION :

The house is $175,000 and the downpayment is 20%

To get the amount of downpayment, multiply 20% or 0.20 by the amount of the house.

That will be :

`0.2*175,000=35000`