Answer:
The amount financed under this mortgage is $185,600
Step-by-step explanation:
Alice took out an 80/20 mortgage on a $232,000 home.
80/20 mortgage means pay 20% down payment and 80% finance amount of home value.
Home value = $232,000
Now, we need to find finance amount from this hone value of $232,000
Let's calculate the 80% of $232,000 as finance amount;
Finance amount = 80% of 232000
Finance amount = 0.80 x 232000
Finance amount = 185,600
Hence, The amount financed under this mortgage is $185,600
