Question

maria put down 7.5% on the purchase of her new home. if she put down $14,117, find the purchase price of the home.

Explanation:

Step1: Define variables and formula

Let $P$ = purchase price. We know $7.5\% \times P = 14117$, so $P = \frac{14117}{0.075}$.

Step2: Calculate the purchase price

$P = \frac{14117}{0.075} \approx 188226.67$

Answer:

The purchase price of the home is $\$188,226.67$