Answer:
total sale price = $263,333
Explanation:
given data
loan = 80 % = 0.80
annual interest rate = 4.5% = 0.045
interest paid = $790 monthly
solution
annual interest will be
annual interest = $790 × 12 months = $9,480
now we get
yield amount that is
yield amount = [tex]\frac{9480}{0.045}[/tex]
yield amount = $210,667
so total sale price for loan 80% will be
total sale price = [tex]\frac{210667}{0.8}[/tex]
total sale price = $263,333
