Question

A pizza shop is purchased for $712,000, and a down payment of 15% of the purchase price is made. Find the down payment

A) $605,200
B) $71,200
C) $106,800
D) $10,680

Answer 1

The correct answer is D.

A down payment is an up-front payment you make to purchase something of considerable value.

In this example the total cost of the property is $712,000.

The down payment is the 15% of the total price.

You calculate the 15% of 712,000 using a calculator.

The result of this operation is the number 10,680.

The down payment is $10, 680.