how much money will need to be loaned from the bank after the 5.5% down payment on a $165,000 asset? down…
how much money will need to be loaned from the bank after the 5.5% down payment on a $165,000 asset? down payment = $9,075 loan value = $?
Answer
Explanation:
Step1: Identify the total asset value and down - payment
The total asset value is $165000$ and the down - payment is $9075$.
Step2: Calculate the loan value
The loan value is the total asset value minus the down - payment. So, $165000 - 9075$. $165000-9075 = 155925$
Answer:
$155925$