Question

Solve. Write the fraction in simplest form.

Answer 1

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