Answer:
Step-by-step explanation:
Equity loan amount = $24,000.
percentage paid off = 20%
Required
The amount paid off
The amount paid off = 20% of the loan amount
Amount paid off = 20/100 * 24000
Amount paid off = 0.2 * 24000
Amount paid off = 4800
Hence the amount of the loan paid off is $4,800
