a lender requires a minimum down - payment of 14% of the value of the home. you have $28,000 cash available…

a lender requires a minimum down - payment of 14% of the value of the home. you have $28,000 cash available to use as a down - payment toward a home. determine the maximum home value that you can finance.\nyou can afford to finance a home worth at most $blank.\nround your answer to the nearest dollar.

a lender requires a minimum down - payment of 14% of the value of the home. you have $28,000 cash available to use as a down - payment toward a home. determine the maximum home value that you can finance.\nyou can afford to finance a home worth at most $blank.\nround your answer to the nearest dollar.

Answer

Explanation:

Step1: Set up the equation

Let the home value be $x$. We know that 14% of $x$ is equal to the available down - payment. So, $0.14x = 28000$.

Step2: Solve for $x$

Divide both sides of the equation by 0.14: $x=\frac{28000}{0.14}$. $x = 200000$.

Answer:

$200000$