Extended Response

Here is a copy of the extended response that we worked on in class today.

6-3 Extended Response

Michael is looking to buy a new house.  He and his real estate agent have looked at several houses’ and Michael believes that he has found the one he wants.  He finds a 3 bedroom 2 bath home with 3500 square feet.  The cost of the new home is $145,595.

A.)                        If Michael wants to put a 15% down payment on the home, how much money will Michael have to pay as his down payment?  Explain

B.)                          Michael decides that 15% is too much money for him to put down right now.  He determines that he can only spend $12,000 on a down payment.  What percent down payment will Michael make?