Respuesta :
Answer:
$14,750
Explanation:
Since the lender has agreed to lend 85% of the purchase price, the buyer must provide 15% of the purchase price.
Purchase Price = $112,500
Cash Deposit (15%) = 15% of 112,500 =0.15 X 112,500 =$16,875
Amount to be Paid by the buyer
= Cash Deposit + Closing Cost
=$16,875 + $4,375
=$21,250
Since the buyer has made an earnest money deposit of $6,500,
The additional cash which the buyer must bring to closing
=Amount to be Paid by the buyer - Earnest Deposit
=21250 - 6500
=$14,750
Cash is a form of legal cash than can be used to trade commodities or pay debts. The value of assets can be turned into cash quickly is commonly referred to as "cash".
Given Information:-
- Deposit money=$6,500
- Sale price=$112,500
- Interest rate=6%
- closing costs=$4,375
Since the lender has agreed to lend 85% of the purchase price, the buyer must provide 15% of the purchase price.
Purchase Price = $112,500
Cash Deposit (15%) = 15% of 112,500 =0.15 X 112,500 =$16,875
Amount to be Paid by the buyer:-
= Cash Deposit + Closing Cost
=$16,875 + $4,375
=$21,250
Since, the buyer has made an earnest money deposit of $6,500,
The additional cash which the buyer must bring to closing
=Amount to be Paid by the buyer - Earnest Deposit
=21250 - 6500
=$14,750
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https://brainly.com/question/1698287
