Ask Question
BusinessBusiness
21 November, 16:03

ABC bank requires a 20% down payment on all of its home loans. If a house is priced at $165000 what is the amount of the down payment required by the bank

+2
Answers (2)
  1. 21 November, 16:12
    0
    The correct answer would be $33,000.

    Explanation:

    If a person takes loan from a bank for purchasing his house which is priced $165,000, then this bank can demand a down payment. This down payment can be of different percentage like 10%, 15%, 20%, etc. If the bank demands 20% down payment on all of its home loans, then a person who is going to take loan for purchasing a house of worth 165,000 dollars will have to give a down payment of

    165000 * 20%

    165000 * 0.2

    33000 Dollars
  2. 21 November, 16:21
    0
    The required down payment would be 165,000 *.2 = 33,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “ABC bank requires a 20% down payment on all of its home loans. If a house is priced at $165000 what is the amount of the down payment ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What is a company's market share? A. The company's percentage of increase in sales over the last year B. The percentage of the market that the company shares with its competitors C. The total size of the market for a product or service D.
Answers (2)
A batch of Raisin Bran that has been made at Kellogg's, but not yet packaged in its final cereal box would be an example of what type of inventory? a. Finished Goods b. Raw Material c. Work-in-process d.
Answers (1)
Describe how good e-mail work habits increase workplace efficiency and productivity.
Answers (1)
The Felix Corp. will pay an annual dividend of $1.00 next year. The dividend will increase by 12 percent a year for the following two years before growing at 4 percent indefinitely thereafter.
Answers (1)
Retained earnings at the beginning and ending of the accounting period were $650 and $1,400, respectively. Revenues of $2,500 and dividends paid to stockholders of $550 were reported during the period.
Answers (1)
New Questions in Business
Josh, Inc. is faced with the choice of either producing a newly designed product, XX-30, to stock in anticipation of demand or to customer order. The demand for the product is expected to be 5,000 units per week.
Answers (1)
Gwen is a psychologist who maintains an office in a professional suite. She often spends time doing paperwork and scheduling in her home officeWhich of the following is true?
Answers (1)
A certificate of deposit will often result in a penalty for withdrawing funds before the maturity date. If the penalty involves two months of interest, what would be the amount for early withdrawal on a $20,000, 4 percent CD?
Answers (1)
Androscoggin Copper can grow at 5% per year for the indefinite future. It's selling at $100, and next year's dividend is $5.
Answers (1)
What are two types of businesses that would probably use a sole proprietorship as a form of business ownership?
Answers (1)
Home » Business » ABC bank requires a 20% down payment on all of its home loans. If a house is priced at $165000 what is the amount of the down payment required by the bank
Sign Up Forgot Password?