Question

The bank has excepted miss Hudson's application for a mortgage to buy property worth $375,575. She has to pay 90% of the purchase price in cash before closing the deal calculate the loan amount the bank will give her

Answer 1

she has to pay 90% so the bank will loan her 10%

10% = 0.10

375575 *0.10 = $37,557.50 is the loan amount the bank will give