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3. The average rate for a 30-year fixed mortgage is 3.48%. Assume a down payment of 20% on a home
purchase of P3,000,000. Flow much is the down payment?
A. P6,000
C. P600,000
B. P60,000
D. P610,000

with solution please​

Sagot :

Imeiversionidn

QUESTION :

3. The average rate for a 30-year fixed mortgage is 3.48%. Assume a down payment of 20% on a home purchase of P3,000,000. Flow much is the down payment?

A. P6,000

C. P600,000

B. P60,000

D. P610,000

ANSWER :

[tex]{ { \boxed{ \blue{ \text{C. P \: 600,000}}}}}[/tex]

Given : Average rate for a 30 - year fixed mortgage is 3.48%. Down payment 20% on purchase of home of P3,000,000 to find : down payment.

SOLUTION :

[tex]\Rightarrow \frac{20}{100} \times 3,000,000 \: = P600,000[/tex]

Answer : ( C ) P 600,000

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