Question

Investors buy a studio apartment for $140,000. Of this​ amount, they have a down payment of $21,000. Their down payment is what percent of the purchase​ price? What percent of the purchase price would a ​$7,000 down payment​ be?

Answer 1

a. Down payment of $21,000

= 21,000 / 140,000

= 0.15

= 15%

b. Down payment of $7,000

= 7,000/ 140,000

= 0.05

= 5%