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?

Algebra ->  Finance -> 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?      Log On


   

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) About Me  (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.