Given:
[tex]\begin{gathered} Home\text{ }Price=154,000 \\ Down\text{ }payment=20\% \\ loan\text{ }year=30years \\ rate=4.35\% \end{gathered}[/tex]
To Determine: The down payment
Solution
[tex]\begin{gathered} Down\text{ }payment=20\%\times Home\text{ }price \\ Down\text{ }payment=0.2\times154000 \\ Down\text{ }payment=30800 \end{gathered}[/tex]
Hence, the down payment is $30,800
