1. Bob offered $92,000 on a home that was listed at $97,000. The seller agreed to the offer. A 20% down payment is required. What is the amount of the down payment?

Question

Mathematics

Moshe

2 April, 13:23

1. Bob offered $92,000 on a home that was listed at $97,000. The seller agreed to the offer. A 20% down payment is required. What is the amount of the down payment?

+2

Answers (1)

Know the Answer?

Arden · Answer 1

Answer: $18,400

Step-by-step explanation:

A down payment for a house is the amount of money that is paid upfront when buying a home. It is expressed as a percentage, and calculated as the value of the down payment divided by the price.

Since Bob offered $92,000 on the house and a 20% down payment is required, the down payment will be:

= 20% of $92,000

= 20/100 * 92000

= 0.2 * 92000

= $18,400

The down payment is $18,400.