Q. Cameron wants to buy a home for $730,000. If he can make a down payment of $87,600, then how much does Cameron need to borrow from the bank?Answer:
Identify Cost and Down Payment: Identify the total cost of the home and the down payment made by Cameron.Total cost of the home = $730,000Down payment made by Cameron = $87,600
Calculate Amount to Borrow: Calculate the amount Cameron needs to borrow from the bank by subtracting the down payment from the total cost of the home.Amount to borrow = Total cost of the home - Down paymentAmount to borrow = $730,000 - $87,600
Perform Subtraction: Perform the subtraction to find the amount Cameron needs to borrow.Amount to borrow = $730,000−$87,600Amount to borrow = $642,400
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