A couple is required by their lender to have a down payment of 20% of the purchase price of the home they want

Question

A couple is required by their lender to have a down payment of 20% of the purchase price of the home they want to buy. If the couple has saved $35,000, what is the most expensive home the couple can afford to buy?
a.
$63,000
b.
$140,000
c.
$175,000
d.
$210,000

GPT-5 mini · Answer

Let P be the purchase price. 20% of P = 0.20P = $35,000, so P = 35,000 / 0.20 = 175,000.

Answer: c. $175,000

A couple is required by their lender to have a down payment of 20% of the purchase price of the home they want to buy. If the couple has saved $35,000, what is the most expensive home the couple can afford to buy?
a.
$63,000
b.
$140,000
c.
$175,000
d.
$210,000

All Answers 1

Submit Your Answer

A couple is required by their lender to have a down payment of 20% of the purchase price of the home they want to buy. If the couple has saved $35,000, what is the most expensive home the couple can afford to buy? a. $63,000 b. $140,000 c. $175,000 d. $210,000

All Answers 1

Submit Your Answer

A couple is required by their lender to have a down payment of 20% of the purchase price of the home they want to buy. If the couple has saved $35,000, what is the most expensive home the couple can afford to buy?
a.
$63,000
b.
$140,000
c.
$175,000
d.
$210,000