Question

Investors buy a studio apartment for $240,000. Of this amount, they have a down payment of $60,000.
a. Their down payment is what percent of the purchase price?
b. What percent of the purchase price would a $12,000 down payment be?

Answer 1

Answer:

A) 4%

B) 20%

Step-by-step explanation:

As, A) we will take 60,000/240000 x 100% so that we can find the percentage.

So the answer = 4%

B) for $12,000, 12, 000/240000 x 100%

Answer = 20%

Answer 2

A) The percentage is 4%

B) The percentage is 20%

Given that,

• Investors buy a studio apartment for $240,000. Of this amount, they have a down payment of $60,000.

calculation:

(a)

$= 60,000\div 240000$

= 4%

(b)

$= 12, 000\div 240000$

= 20%

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