The question asks for the required down payment on a condominium priced at $96,000, with a 5% down payment required by the bank.

To calculate the down payment, use the formula:

$\text{Down Payment} = \text{Price} \times \text{Down Payment Percentage}$

In this case:

$\text{Down Payment} = 96,000 \times 0.05$

I'll calculate that now.The required down payment for the condominium is $4,800.

Would you like to proceed with further parts of the question or require more details on this calculation?

Here are some related questions you might consider:

1. How do you calculate the loan amount after the down payment?
2. How does a 30-year mortgage affect monthly payments?
3. How is the interest portion of a mortgage payment calculated?
4. What is the total cost of the loan over 30 years?
5. How would changing the interest rate affect monthly payments?

Tip: Always confirm whether there are additional fees (like closing costs) when calculating the total amount needed for a home purchase.