Question

family buys a studio apartment for $120,000. They pay a down payment of $18,000.a. Their down payment is what percent of the purchase price? b. What percent of the purchase price would a $6,000 down payment be?a. The down payment is 1515% of the purchase price. (Type a whole number.) b. A $6,000 down payment would be nothing% of the purchase price.

Answer 1

A) Down payment = $ 18,000

Full Cost = $120,000

% of down payment can be calculated thus:

`\begin{gathered} \frac{down\text{ payment}}{Full\text{ Cost}}*100\text{ percent} \\ (18000)/(120000)*100=15\text{ percent} \end{gathered}`

Answer = 15%

B) Here, we are required to find out what percent of the whole payment will a down payment of $6,000

It is given as:

`(6000)/(120000)*100=5\text{ percent}`

Answer = 5%