You placed a 12% down payment on a new home. Given that the amount of the down payment was $42,655.12, determine the price of the home. Round your answer to the nearest cent.

The $42,655.12 down payment is 12% of the home’s price, so divide by 0.12: $42,655.12 ÷ 0.12 = $355,459.333…. Rounded to the nearest cent, the home costs $355,459.33, choice a.

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