Answer
\[\$108,000\]
Work Step by Step
Calculation of the mortgage amount can be done by subtracting the down payment from the price of the house.
Compute the mortgage amount as mentioned below:
\[\begin{align}
& \text{Mortgage amount}=\text{Price of the house}-\text{Down payment} \\
& =\$120,000-\$12,000\\&=\$108,000\end{align}\]
Hence, the amount of mortgage is \[\$108,000\]
