QuestionJune 27, 2025

If a home costs 500,000 what is the down payment probably going to be? 25,000 50,000 200,000 100,000

If a home costs 500,000 what is the down payment probably going to be? 25,000 50,000 200,000 100,000
If a home costs 500,000 what is the down payment probably going to be? 25,000 50,000 200,000 100,000

Solution
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Answer

\100,000 Explanation 1. Identify typical down payment percentage A common down payment is 20% of the home price. 2. Calculate 20% of home cost **Formula:** \text{Down Payment} = \text{Home Cost} \times 0.20 Calculation: \500,000 \times 0.20 = \100,000

Explanation

1. Identify typical down payment percentage<br /> A common down payment is 20% of the home price.<br /><br />2. Calculate 20% of home cost<br /> **Formula:** $ \text{Down Payment} = \text{Home Cost} \times 0.20 $<br /> Calculation: $ \$500,000 \times 0.20 = \$100,000 $
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