Duckiesaur8breadidn
Answered

Find solutions to your problems with the expert advice available on IDNLearn.com. Get timely and accurate answers to your questions from our dedicated community of experts who are here to help you.

How much money will need to be loaned from the bank after the 15% down payment on a [tex]$200,000 asset?

Down Payment = $[/tex]30,000
Loan Value = $[ ? ]

Sagot :

GinnyAnsweridn
Alright, let's solve this problem step-by-step:

1. Determine the total value of the asset:
- The asset value is [tex]$200,000. 2. Calculate the down payment percentage: - The down payment percentage is provided as 15%. 3. Find the down payment amount: - To find the down payment amount, you multiply the asset value by the down payment percentage. - Down payment amount = \( 200,000 \times 0.15 \) - Down payment amount = $[/tex]30,000.

4. Calculate the remaining amount that needs to be loaned:
- To find the loan value, you subtract the down payment amount from the total asset value.
- Loan value = [tex]\( 200,000 - 30,000 \)[/tex]
- Loan value = [tex]$170,000. Thus, the loan value that will need to be borrowed from the bank after making a 15% down payment on a $[/tex]200,000 asset is $170,000.
Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. Your questions deserve precise answers. Thank you for visiting IDNLearn.com, and see you again soon for more helpful information.