how much money will need to be loaned from the bank after the 10% down payment on a $200,000 asset?\ndown…
how much money will need to be loaned from the bank after the 10% down payment on a $200,000 asset?\ndown payment = $20,000\nloan value = $?
Answer
Explanation:
Step1: Find the remaining percentage
The asset price is considered 100%. After a 10% down - payment, the remaining percentage to be loaned is 100% - 10%=90%.
Step2: Calculate the loan value
The asset value is $200,000. The loan value is 90% of $200,000, which is $200000\times0.9$. $200000\times0.9 = 180000$
Answer:
$180,000$