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Kris and Nathan put a down payment of 20% on the purchase of their house, and then financed

$150,000. What was the purchase price of the house

Respuesta :

JeanaShupp

Answer: $187,500

Step-by-step explanation:

Let x = Purchasing price of house.

Given: Down payment = 20% of x

= 0.20x  [20% = 0.20]

The amount financed = Purchasing price - Down payment

= x-0.20x

=(1-0.20)x

= 0.80x

As per given,

[tex]0.80x=150000\\\\\Rightarrow x=\dfrac{150000}{0.8}\\\\\Rightarrow\ x=\dfrac{1500000}{8}\\\\\Rightarrow\ x=187500[/tex]

Hence, the purchase price of the house =$187,500

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