Question

Molly has a $2500 down payment saved for this purchase. Molly assumes the $500 cash allowance will come straight off her total. How much loan does molly need?.

Answer 1

Answer: $3000

Explanation:

Based on the information given, the amount of loan that Molly needs will be the addition of the down payment and the cash allowance and this will be:

= Down payment + Cash allowance

= $2500 + $500

= $3000

Molly needs a loan of $3000