Question

The bank has accepted Harriet's application for a mortgage to buy a property worth $325,500. She has to make a down payment of 20 percent of the purchase price. What is the loan amount?

Answer 1

325500*0.2=65100
325500-65100=260400

Answer 2

What is 20% of $325,500?
She needs a loan of 80%. So multiply 80% by the purchase price.
325500 x 80% $260,400
hope this helps