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vagabundo [1.1K]
3 years ago
9

A house is purchased at a selling price of $285,000. The bank requires a 15% down payment. The current mortgage rate is 3.5%. De

termine the amount to be financed.
Mathematics
1 answer:
Anni [7]3 years ago
3 0

Answer:

\large \boxed{\$242250}}

Step-by-step explanation:

\begin{array}{rcr}\text{Selling price} & = & \$285000 \\-\text{Down payment} & = &-0.15 \times \$285000 =\qquad -42750\\\text{To be financed}& = & \mathbf{\$242250}\\\end{array}\\\text{The amount to be financed is $\large \boxed{\mathbf{\$242250}}$}

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