document.write( "Question 956181: If I have a maximum loan amount of 417,000 and a required down payment of 5%, how do I calculate the purchase price? \n" ); document.write( "
Algebra.Com's Answer #584236 by Theo(13342)\"\" \"About 
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your loan is 417,000.
\n" ); document.write( "your required down payment is 5%.
\n" ); document.write( "let x = the purchase price.
\n" ); document.write( "you are paying 5% down and 95% is the loan.
\n" ); document.write( "since you know the amount of the loan, then:
\n" ); document.write( ".95 * x = 417,000
\n" ); document.write( "divide both sides of this equation by .95 and you get:
\n" ); document.write( "x = 417,000 / .95 = 438947.3684.
\n" ); document.write( "that's the amount of the loan.
\n" ); document.write( "5% of that is the down payment and 95% of that is the loan.
\n" ); document.write( "it looks wierd, but that's the way it comes out.
\n" ); document.write( "the amount of the loan is 438947.36842.
\n" ); document.write( "5% of that is equal to 21947.36842
\n" ); document.write( "subtract that from 438947.3684 and you get 417000.
\n" ); document.write( "that's the amount of the loan.
\n" ); document.write( "the alternative is to just multiply 438947.36842 by .95 and you will still get 417000.\r
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