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Investors buy a studio apartment for $240,000. Of this amount, they have a down payment of
$36,000. Their down payment is what percent of the purchase price? What percent of the purchase
price would a $12,000 down payment be?

Respuesta :

absor201

Answer:

  • The down payment of $36000 is 15% of price.
  • The down payment of $12000 is 5% of price.

Step-by-step explanation:

Given that

Price of studio apartment = P = $240000

Down payment =d = $36000

Down payment is the amount that is initially given at the time of buying something.

Part A: For down payment of $36000

We will simply divide the down payment by total price.

[tex]= \frac{36000}{240000}\\=0.15[/tex]

Converting into percentage, multiplying by 100

[tex]= 0.15*100 = 15\%[/tex]

Part B: For down payment of $12000

We will simply divide the down payment by total price.

[tex]=\frac{12000}{240000}\\=0.05[/tex]

Converting into percentage, multiplying by 100

[tex]=0.05*100 = 5\%[/tex]

Hence,

  • The down payment of $36000 is 15% of price.
  • The down payment of $12000 is 5% of price.

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