Suppose that you want to begin saving money to buy a house valued at $300,000. The bank recommends that you have a 20% down paym

Question

3 years ago

9

Suppose that you want to begin saving money to buy a house valued at $300,000. The bank recommends that you have a 20% down paym

ent before it approves a loan for the remaining difference. How much money do you need to save before you will be approved for a loan? What is the remaining difference that you will need to borrow?

Mathematics

1 answer:

Shalnov [3] · Answer 1 · 2022-03-06T13:24:04+03:00

Shalnov [3]3 years ago

6 0

Answer:

$60,000 as down payment and remaining difference for loan is 300,000 - 60,000 = $240,000.