Question

A family buys a studio apartment for $240,000. They pay a down payment of $48,000.

a. Their down payment is what percent of the purchase price?
b. What percent of the purchase price would an $84,000 down payment be?
a. The down payment is
(Type a whole number.)
% of the purchase price.

Answer 1

A. 20% B. 35%

Explanation:

a. (48,000 divided by 240,000) x 100 = 20

B. (84,000 divided by 240,000) x 100 = 35