Question

Mr Coffey bought a house for 195,000 he made a 20% down payment the interest rate is 5.25% for 30 years

Answer 1

$39000

DOWN PAYMENT MEANS THE AMOUNT YOU PAY PAY AT THE TIME OF THE DEAL OF PURCHASING THE HOUSE.THERE IS USUALLY A PERCENTAGE OF THE TOTAL AMOUNT AND IS PAID IN A LUMP SUM.

20& OF THE COST OF HOUSE OUT HERE

I.E. 20% OF $195000

= 0.2 * 195000

=$39000