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Alice took out an 80/20 mortgage on a $232,000 home. What is the amount
financed under the first mortgage?

Alice took out an 8020 mortgage on a 232000 home What is the amount financed under the first mortgage class=

Respuesta :

Charmber06

Answer:

B. $185,600

Step-by-step explanation:

80/20 mortgage means pay 20% down payment and 80% finance amount of home value.

Home value = $232,000

Now, we need to find finance amount from this hone value of $232,000

Let's calculate the 80% of $232,000 as finance amount;

Finance amount = 80% of 232000

Finance amount  = 0.80 x 232000

Finance amount = 185,600

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