You placed a 13.2% down payment on a new home. Given that the amount of the down payment was $25,623.10, determine the price of the home. Round your answer to the nearest cent.

The down payment is 13.2% of the home's price, so divide the payment by 0.132: $25,623.10 ÷ 0.132 = $194,114.3939… Rounded to the nearest cent, the home costs $194,114.39, which is choice b.

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