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A house is purchased for $205,000, and a down payment is made for 20% of the purchase price, is made. Calculate the mortgage balance.

A house is purchased for $205,000, and a down payment is made for 20% of the purchase price, is made. Calculate the mortgage balance.
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4 votes
A house is purchased for $205,000, and a down payment is made for 20% of the purchase price, is made. Calculate the mortgage balance.

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User Joseph Chen
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8.2k points

1 Answer

3 votes
205,000−(205,000×0.20)=164,000
answered
User Jturolla
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7.9k points
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