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ABC Bank requires a 20% down payment on all home loans. If a house is priced at $185,000, what is the amount of the down payment required by the bank?

Respuesta :

MegH07
20% of $185,000 is $37,000

Answer:

The amount of down payment is $ 37000.

Step-by-step explanation:

Given,

The price of house = $ 185,000,

Down payment percentage required by bank = 20 %,

Thus, the amount of the down payment for house required by the bank

= 20% of the price of house

= 20% of $ 185,000

[tex]=\frac{20\times 185000}{100}[/tex]

[tex]=\frac{3700000}{100}[/tex]

[tex]=\$ 37000[/tex]

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