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practice testMultiple Choice

Practice Test

Question 1 • Personal Finance

A down payment is usually what percentage of the asking price of a home?

Answer
A
50–75 percent
B
0–5 percent
C
5–20 percent
D
20–50 percent

Explanation

A down payment is the portion of the home’s purchase price paid upfront. It is commonly in the range of 5–20 percent, though the exact amount depends on the loan and buyer. Therefore, “5–20 percent” is the correct choice.

AI-written and checked against the verified answer.

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