Question 1097451
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Take 20% of 420,000 to get
20% of 420,000 = (20/100)*420,000
20% of 420,000 = (0.20)*420,000
20% of 420,000 = 84,000


So you have to pay $84,000 up front before any money is loaned to you. This is the down payment.


Now subtract that result from the value 420,000
420,000 - 84,000 = 336,000


The remaining amount of money loaned to you is <font color=red>$336,000</font> (which is another way of saying this amount is financed)


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Alternatively you can think of it like this: You put 20% down as a downpayment, so 100%-20% = 80% of the total home value is financed.


Taking 80% of the home value gives us
80% of 420,000 = (80/100)*420,000
80% of 420,000 = (0.80)*420,000
80% of 420,000 = 336,000


which is another way to get to the answer of <font color=red>$336,000</font>
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