Answer:
$4,400
Explanation:
The bank grants Duncan a loan of $22,000 but requires him to make a down payment of 20%, meaning Duncan has to pay 20% of the loan at hand.
Now, after Duncan has paid 20% of the loan a the time of borrowing the amount he has left to loan is 80% of the original amount.
80% of $22,000 is
[tex]\frac{80}{100}\times22,000[/tex][tex]=17,600.[/tex]Hence, the amount Duncan finances is
[tex]22,000-17600=4400[/tex]