15. cody and his wife are purchasing a home. the costof the home is $145,900. they will be required topay a down payment of 5% of the purchase priceand to pay closing costs of 6% of the purchaseprice. how much cash will they need for the downpayment and closing costs? $16,049$8,754$7,295$145,900$161,949

They would need $16,049!

Price of the home is $145,900.

Percentage of the down payment is 5%

Subtract 5% from $145,900 = $138,605

That mean 5% of $145,900 is $7,295

Percentage of the closing cost is 6%.

Subtract 6% from $145,900 = 137,146

That mean 6% of 145,900 is $8,754

Add the down payment ($7,925) and closing cost ($8,745)

$16,049!

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