Question

An auto parts store sells for $200,000 and a 30% down payment is made. A 10-year mortgage at 8% is obtained, and dosing costs are $4600 Round to the nearest cent, if necessary.

Find the down payment..

Answer 1

The down payment on the auto parts store that sells for $200,000 with a 30% down payment is $60,000.

Step-by-step explanation:

The student has asked to find the amount of the down payment for an auto parts store that sells for $200,000 with a 30% down payment required.

To calculate the down payment, we multiply the total price of the auto parts store by the down payment percentage:

$200,000 × 30% = $200,000 × 0.30 = $60,000

Therefore, the down payment that needs to be made is $60,000.