SOLUTION: You want to buy a $224,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 6.85% for the rest. What is the amount of the down payment?

SOLUTION: You want to buy a $224,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 6.85% for the rest. What is the amount of the down payment?

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Question 1183100: You want to buy a $224,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 6.85% for the rest. What is the amount of the down payment?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
10% of $224,000. Remove the last digit and put a decimal point there.
$22,400.
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