Question

How should i solve this using an algebraic equation

Answer 1

House price = down payment + mortgage x number of months

430,000 = 250,000 + 2,000x where x is number of months

To find number or months solve for x
430,000 = 250,000 + 2,000x

Subtract 250,000
180,000 = 2,000x

Divide by 2,000
x = 90 months

12 months in one year
90 = 84 + 6 = 12 x 7 + 6

7 years and 6 months