Send to a Friend

Dutchess_III's avatar

Will you help me with this "homework" question, please?

“A buyer purchased a property for $79,650. The buyer obtained a first mortgage for 83% of the purchase price with a 6% down payment. The owner finaanced the balance of the purchase price. What would be the amount for the second mortgage financed by the seller?”

A) $8,235.81
B) 8,761.50 ***********
C) 13,540.50
D) 17,345.98

Per the teacher, B is the right answer but I can’t seem to get to that no matter how I slice it.

I’m not going to go through all the contortions I’ve been going through because my brain is fried and I have to stop for today. I really do.

PS, it’s not really “Homework” per se. She won’t be grading it. She just wants us to figure out how she got there.


Using Fluther


Using Email

Separate multiple emails with commas.
We’ll only use these emails for this message.

Mobile | Desktop

Send Feedback