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tatuchka [14]
3 years ago
6

You have saved 18000 for a down payment on a house. Your bank requires a minimum down payment of 11%. What is the maximum price

you can offer for a home in order to have enough money for the down payment
Mathematics
1 answer:
zhenek [66]3 years ago
7 0

Money saved for down payment = 18000

Minimum down payment required by the bank = 11%

Let the maximum price that can be offered be = P

\frac{11}{100}P=18000

11P=1800000

P=163636.36

Hence a maximum price of 163636.36 can be offered for a home that can have a down payment of 18000.

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