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Arada [10]
3 years ago
9

The bank has accepted Mrs. Hudson's application for a mortgage to buy property worth $375,575. She has to pay 19 percent of the

purchase price in cash before closing the deal. Calculate the loan amount the bank will give her.
Mathematics
2 answers:
Aloiza [94]3 years ago
6 0

Answer: Total loan amount the bank will give her is $304215.75.

Step-by-step explanation:

Since we have given that

Original price of property = $375,575

According to question, she has to pay 19% of the purchase price in case before closing the deal.

So, 19% of the purchase price of property is given by

\frac{19}{100}\times 375575\\\\=\$71359.25

So, The loan amount the bank will give her is given by

375,575-71359.25\\\\=\$304215.75

Hence, total loan amount the bank will give her is $304215.75.

Lostsunrise [7]3 years ago
3 0
The loan amount will equal to 304,215.75
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