Margy bought a house for $69,700. She made a down payment of 25%. How
big a mortgage did she have?
a. $5,576
b. $52,275
c. $17,425
d. $3,485
The down payment was 25% of the total price, so the mortgage was 75% of the total price:
$69,700 x 0.75 = $52,275
Therefore, Margy had a mortgage of $52,275.
The answer is b.