Ask Question
5 March, 12:59

Larry took out an 80/20 mortgage on a $225,000 home. What is the amount financed under the first mortgage? A.$45,000 B.$180,000 C.$164,000 D.$225,000

+4
Answers (1)
  1. 5 March, 13:09
    0
    An 80/20 payment means 80% will be paid as mortgage and 20% will be the piggyback loan. Therefore, the mortgage will be:

    0.8 x 225,000

    = $180,000

    The answer is B.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Larry took out an 80/20 mortgage on a $225,000 home. What is the amount financed under the first mortgage? A.$45,000 B.$180,000 C.$164,000 ...” in 📗 Mathematics 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