Question

Investors buy a studio apartment for 140,000 of this amount they have a down payment of 28,000 their down payment is what percent of the purchase price what percent of the purchase price would a 63,000 down payment be

Answer 1

a. 20%

b. 45%

Explanation:

The total cost of the studio apartment is $140,000.

The down payment is $28,000.

Percentage of down payment to purchase price is:

= 28,000 / 140,000 * 100%

= 20%

b. Percentage of down payment of $63,000 to purchase price is:

= 63,000 / 140,000 * 100%

= 45%