college algebra

Question

A lender requires a minimum down payment of 14% of the value of the home. You have $21,000 cash available to use as a down payment toward a home. Determine the maximum home value that you can finance.

Answer 1

Let x= max house value

The question you are trying to answer is:

14% of what value is 21,000?

Translating this to an equation

(0.14)(x)=21,000

Now to solve

Divide both sides by 0.14

(0.14)(x)/0.14=21,000/0.14

x=$150,000 for the house price