Question

Homebuyers who don't make a down payment of at least 20% may be required to take out PMI (Private Mortgage Insurance). On a $200,000 loan, the premiums can cost more than $100 per month. What would be the minimum down payment on a $200,000 loan?

Answer 1

16.6 its the answer to the quistin

Answer 2

If your asking for the 20% down payment then the answer is $40,000

To get this you need to first convert the 20% into a decimal.
20%-->.20

Now you need to multiply the $200,000 by .20

$200,000x.20= $40,000 <--- 20% of $200,000