The amount of the down payment and the fixed rate mortgage is $35000 and $9625.
According to the statement
We have given that the
Thomas osler is buying a house selling for $175,000 And we have to find the amount of the down payment and the monthly payment.
So, The down payment is :
percentage of the down payment is 20%
So,
Amount = 20/100*175000
Amount = 35,000$
And the percentage of the fixed rate mortgage with 5.5%
So,
Amount = 5.5/100*175000
Amount = $9625.
This the amount of the down payment with the given percentage and with the fixed rate mortgage.
So, The amount of the down payment and the fixed rate mortgage is $35000 and $9625.
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