Question

Investors buy a studio apartment for $150,000. Of this​ amount, they have a down payment of $37,500. Their down payment is what percent of the purchase​ price? What percent of the purchase price would a ​$67,500 down payment​ be?

Answer 1

Answer: To find the percentage of the down payment to the purchase price, just multiply the down payment by 100 and divide the result by the purchase

i.e 15,000 x 100/ 150,000= 10%

Also for the second part, multiply the down payment by 100 and divide by the purchase price

i.e 67,500 x 100 / 150,000= 45%

Step-by-step explanation:

Answer 2

The down payment of $37,500 is 25% of the purchase price and a down payment of $67,500 would be 45% of the purchase price.

Step-by-step explanation:

When investors purchase a studio apartment for $150,000, they have a down payment of $37,500. This means that they are paying a percentage of the total purchase price upfront. In order to calculate the percentage of the down payment, we can use the formula:

Percent = (Part/Whole) x 100

In this case, the down payment of $37,500 is the part and the total purchase price of $150,000 is the whole. Therefore, the percentage can be calculated as:

Percent = ($37,500/$150,000) x 100 = 0.25 x 100 = 25%

This means that the down payment of $37,500 is 25% of the purchase price.

Now, let's consider the second part of the question. If the down payment is increased to $67,500, what percentage of the purchase price does that represent? Using the same formula, we can calculate the percentage as:

Percent = ($67,500/$150,000) x 100 = 0.45 x 100 = 45%

This means that a down payment of $67,500 would be 45% of the purchase price.

Step-by-step explanation:

As mentioned earlier, the down payment of $37,500 is 25% of the purchase price and a down payment of $67,500 would be 45% of the purchase price. This shows that the down payment amount is directly proportional to the percentage of the purchase price. In other words, as the down payment increases, the percentage of the purchase price also increases.

This can be seen in the calculations above. The down payment of $37,500 is 25% of the purchase price and the down payment of $67,500 is 45% of the purchase price. This means that the down payment has increased by $30,000 and the percentage has also increased by 20%. This relationship between the down payment and the percentage can be seen in the formula used to calculate the percentage.

It is important for investors to consider the percentage of the down payment in relation to the purchase price, as it can impact their financial stability and future investments. A higher down payment percentage may result in a lower mortgage payment and less interest paid over time. On the other hand, a lower down payment percentage may result in a higher mortgage payment and more interest paid over time.

In conclusion, the down payment of $37,500 is 25% of the purchase price and a down payment of $67,500 would be 45% of the purchase price. This relationship between the down payment and the percentage of the purchase price is important for investors to consider when making financial decisions.