We are given that a down payment of 12% from a total price of $160000 was made. To determine the amount paid we use the following relationship:
[tex]160000\times\frac{12}{100}[/tex]Solving the operations:
[tex]160000\times\frac{12}{100}=19200[/tex]Therefore, the down payment was $19200.
The amount financed is the remaining amount, that we subtract the down payment from the original price:
[tex]160000-19200=140800[/tex]Therefore, the amount financed was $140800