Question
Your parents have just purchased a townhouse for $200,000 in Catskill, NY. After 20% down payment, they obtain financing with the following terms from a
Your parents have just purchased a townhouse for $200,000 in Catskill, NY. After 20% down payment, they obtain financing with the following terms from a bank: the balance to be loaned over 30 years at 9% compounded monthly. What is the amount of their down payment? (hint: 20% of the price of the house $200,000)
A. $20,000
B .$40,000
C. $60,000
D. $80,000
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Finance Without Fear Business Forecasting Workbook
Authors: William S. Hettinger, John Dolan Heitlinger
1st Edition
0982891717, 9780982891711
