Steve is buying a home worth $275000. His closing costs will amount to 6%, & his down payment is 15%. How much is each fee.

A. The closing cost are $16,500, & the down payment is $41,250.

B. The closing cost are $16,500, and the down payment is $42,000

C. The closing cost are $42,500, & the down payment is $165,000

Question

Mathematics

Porter Wong

27 October, 08:17

Steve is buying a home worth $275000. His closing costs will amount to 6%, & his down payment is 15%. How much is each fee.

A. The closing cost are $16,500, & the down payment is $41,250.

B. The closing cost are $16,500, and the down payment is $42,000

C. The closing cost are $42,500, & the down payment is $165,000

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Answers (1)

Know the Answer?

Alisha Hebert · Answer 1

Answer is A. The closing cost are $16,500, & the down payment is $41,250.

$275000 * 0.06 = $16,500 ... closing cost

$275000 * 0.15 = $41,250 ... down payment