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Sarah bought a $320000 house. She pays 20% down and takes out a 30-year loan for the rest. How much is the loan amount going to be?

Sarah bought a $320000 house. She pays 20% down and takes out a 30-year loan for the rest. How much is the loan amount going to be?
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Sarah bought a $320000 house. She pays 20% down and takes out a 30-year loan for the rest. How much is the loan amount going to be?

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User Asif Saeed
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1 Answer

1 vote
The first thing you do is mutitpy 320,000 by .20 so that you can find the amount of down payment. The down payment would be 64,000. So you subtract 64,000 from 320,000. This leaves a loan amount of 256,000 dollars. The answer is 256,000 dollars .
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User Iveta
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