Larry took out an 80/20 mortgage on a $225,000 home. what is the amount financed under the first mortgage? a.$45,000 b.$180,000 c.$164,000 d.$225,000

The amount financed under this mortgage is $180,000

B is correct.

Step-by-step explanation:

Larry took out an 80/20 mortgage on a $225,000 home.

80/20 mortgage means pay 20% down payment and 80% finance amount of home value.

Home value = $225,000

Here, we need to find finance amount from $225,000

We will calculate the 80% of $225,000

Finance amount = 80% of 22500

                           = 0.80 x 225000

                           = 180000

Hence, The amount financed under this mortgage is $180,000

linear

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