Question

ABC Bank requires a 20% down payment on all of its home loans. If a house is priced at $105,000, what is the amount of the down payment required by the bank?

A. $18,000
B. $210,000
C. $21,000
D. $14,500

Answer 1

Percentage of down payment that ABC bank requires to be paid = 20%
Price of the house = $10500
Then
Amount of down payment
that needs to be made = (20/100) * 105000
= 21000 dollars
From the above deduction, it can be deduced that the correct option among all the options that are given in the question is the third option or option "C". I hope that this is the answer that has actually come to your desired help.