Answer :
At the time of making the down payment which is of 20%, the bank will require an amount of $26.000. The reason behind this large amount is the price of the house, which is $130,000. Hence, Option C is correct.
What is down payment?
A down payment is an upfront, partial payment made when purchasing expensive goods or services like a home or car. Typically, it is paid in cash or an equivalent at the time the transaction is completed.
The remaining payment must then be financed through a loan of some kind. When in the given text, the amount is $130,000 and for the same one has to calculate the amount for down payment and for doing so the percentage is 20.
As a result of calculating the purchase price by the down payment %, the down payment may be easily calculated. Option C is correct.
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