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You have saved $16,000 for a down payment on a house. Your bank requires a minimum down payment of 15%. What is the maximum price you can offer for a home in order to have enough money for the down payment?
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You have saved $16,000 for a down payment on a house. Your bank requires a minimum down payment of 15%.

What is the maximum price you can offer for a home in order to have enough money for the down payment?

User Abdelrhman Arnos
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1 Answer

1 vote
Take the number, multiply by 100, then divide by the percent.

(16000 x 100) / 15

This equals $106666.67.
User WizardNx
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4.4k points
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