To figure out the down payment percentage multiply dollar amount by decimal for percent. For example 10% is .10 20% is .20 5% is .05 etc.
Then to figure out the amount to be financed subtract the down payment from the original amount.
Does this help?
Determine the down payment and the amount to be financed for each home described below.(a) $460,460; 10% down
The amount to be financed is $ The down payment is $
(b) $730,000; 20% down The amount to be financed is $
The down payment is $
I need help with this.Please show me the steps to this problem.
2 answers
Yes this help a lot. Thanks.
What I came up with is (a)amount to be financed is $46,046 the down payment is 414,414 (b)amount to be financed is $584,000 the down payment is $146,000 is this correct.
What I came up with is (a)amount to be financed is $46,046 the down payment is 414,414 (b)amount to be financed is $584,000 the down payment is $146,000 is this correct.