Determine the down payment and the amount to be financed for each home described below.

(a) $360,360; 10% down
The down payment is $ 1
The amount to be financed is $ 2

(b) $960,000; 20% down
The down payment is $ 3
The amount to be financed is $ 4

a. Down = 0.1 * 360,360 = $36036.

Amt Financed=360360 - 36036=$324,324

b. Same procedure as "a".

To determine the down payment and the amount to be financed for each home, follow these steps:

(a) $360,360; 10% down
1. Multiply the purchase price ($360,360) by the down payment percentage (10%):
Down payment = $360,360 × 10% = $36,036
The down payment is $36,036.
2. Subtract the down payment from the purchase price to find the amount to be financed:
Amount to be financed = $360,360 - $36,036 = $324,324
The amount to be financed is $324,324.

(b) $960,000; 20% down
1. Multiply the purchase price ($960,000) by the down payment percentage (20%):
Down payment = $960,000 × 20% = $192,000
The down payment is $192,000.
2. Subtract the down payment from the purchase price to find the amount to be financed:
Amount to be financed = $960,000 - $192,000 = $768,000
The amount to be financed is $768,000.