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Nayeli wants to buy a home for $530,000. If she can make a down payment of $79,500, then how much does Nayeli need to borrow from the bank? Answer:

Nayeli wants to buy a home for $530,000 \$ 530,000 . If she can make a down payment of $79,500 \$ 79,500 , then how much does Nayeli need to borrow from the bank?\newlineAnswer:

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Full solution

Q. Nayeli wants to buy a home for $530,000 \$ 530,000 . If she can make a down payment of $79,500 \$ 79,500 , then how much does Nayeli need to borrow from the bank?\newlineAnswer:
  1. Identify Costs: Identify the total cost of the home and the down payment Nayeli can make.\newlineTotal cost of the home: $530,000\$530,000\newlineDown payment Nayeli can make: $79,500\$79,500
  2. Calculate Borrowing Amount: Subtract the down payment from the total cost to find out how much Nayeli needs to borrow.\newlineAmount to borrow = Total cost of the home - Down payment\newlineAmount to borrow = $530,000\$530,000 - $79,500\$79,500
  3. Perform Subtraction: Perform the subtraction to calculate the amount Nayeli needs to borrow.\newlineAmount to borrow = $530,000−$79,500\$530,000 - \$79,500\newlineAmount to borrow = $450,500\$450,500

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