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You want to buy a $232,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest.a) How much is the loan amount going to be?

Respuesta :

The amount of the loan is equal to the total cost of the house minus the 15% you will pay in the beginning.

Now, to compute the x% of y, we use the following expression:

[tex]\frac{x*y}{100}.[/tex]

Therefore, 15% of 232,000 is:

[tex]\frac{15*232,000}{100}=34800.[/tex]

Finally, the amount of the loan will be:

[tex]232,000-34,800=197,200.[/tex]

Answer:

[tex]197,200[/tex]

dollars.

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