Janae is purchasing a home for $234,570. if she uses a conventional loan, what is the best estimate for how much will her down payment be? a. $18,765 b. $23,457 c. $35,185 d. $46,914

The correct answer is D. $  46,914

Step-by-step explanation:

According to the Consumer Financial Protection Bureau, conventional mortgages have a down payment requirement as low as 3 percent, however most typically require a down payment of 5 to 20 percent. Therefore, the best estimate for Jane's down payment is the 20 percent.

Using the values given, we have:

234,570 * 0.2 = 46,914

The correct answer is D. $  46,914

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