If a house requires 20% down-payment and someone has 80K, what would be the house price?
Is there a formula to calculate this?
If a house requires 20% down-payment and someone has 80K, what would be the house price?
Is there a formula to calculate this?
Copyright © 2021 JogjaFile Inc.
$20$% is $\frac{1}{5}$. Therefore the maximum price would be $5$ times the available deposit.
For your problem this is 400K.