Ned and Nora purchased a house for $72,500. They had to make a down

Question

payment of 15%. How much was the amount of the mortgage they
obtained?

Answer 1

The down payment was 15% of the purchase price, which is $72,500.

So, the down payment amount = 15% of $72,500
= (15/100) * $72,500
= $10,875

Therefore, the amount of the mortgage they obtained = $72,500 - $10,875
= $61,625

So, the amount of the mortgage they obtained was $61,625.