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blsea [12.9K]
2 years ago
4

The bank has accepted Mrs. Hudson's application for a mortgage to buy property worth $375,575. She has to pay 19 percent of the

purchase price in cash before closing the deal. Calculate the loan amount the bank will give her.
a $302,415.75
b $304,215.75
c $340,215.75
Mathematics
1 answer:
erma4kov [3.2K]2 years ago
5 0

Answer: Option 'b' is correct.

Step-by-step explanation:

Since we have given that

Value of property = $375,575

Percentage of the purchase price she need to pay = 19%

Amount that she need to pay is given by

\frac{19}{100}\times 375,575\\\\=\$71359.25

Amount of loan the bank will give her is given by

375,575-71359.25\\\\=\$304215.75

Hence, Option 'b' is correct.

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