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You buy a $264,000 home with a down payment of 21%. Find the amount of the...

You buy a $264,000 home with a down payment of 21%. Find the amount of the down payment and the mortgage amount.

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Answer #1

Amount of down payment = 21% of 264,000

Amount of down payment = $55,440

Amount of mortgage amount = 264,000 - 55,440

Amount of mortgage amount = $208,560

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