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Question

ABC Bank requires a 20% down payment on all of its home loans. If a house is priced at $145,000, what is the amount of the down payment required by the bank?
A. $14,500

B. $290,000

C. $18,000

D. $29,000

Answer 1

To calculate, all you do is multiply the price by the percent (as a decimal):

 

$145,000 x .20 = $29,000  (D)