Question

1. Sarah bought a house for $140,000. She paid 20% down and took out amortgage loan for the remaining money. How much was her loan?b.C.$112,000$94.700$101,350

Answer 1

Answer:

$112,000

Explanation:

Cost of the house = $140,000

Percentage made as down payment =20% =0.2

Therefore, the amount loaned will be:

$\begin{gathered} =(1-0.2)\times140,000 \\ =0.8\times140,000 \\ =112,000 \end{gathered}$

Her loan was $112,000.