A company borrows $75,000 for 8 years at a simple interest rate of 7.5%. Find the interest paid on the loan and the total amount
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Down payment is 20% of the price of the home. Since the couple saved $35,000, and assuming they will pay the whole money as down payment, the highest priced home they can get is a price whose 20% is $35,000.
We can setup an equation in x (being the price of home) to get the price of the most expensive home they can buy.
<em>Which number (x) , multiplied by 20%, is equal to $35,000?</em>
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So, the most expensive house they can buy is worth $175,000.
ANSWER: $175,000