Question

1. jason made a 17% down payment on the purchase of his new home. if the purchase price is $295,000, how much money did jason pay in cash as a down payment?

$28,150
$39,150
$57,150
$50,150

Explanation:

Step1: Convert percentage to decimal

To find 17% of the purchase price, we first convert 17% to a decimal by dividing by 100. So, \( 17\% = \frac{17}{100} = 0.17 \).

Step2: Calculate the down payment

The purchase price is $295,000. To find the down payment, we multiply the purchase price by the decimal form of the percentage. So, the down payment \( = 295000 \times 0.17 \).
Calculating this: \( 295000 \times 0.17 = 50150 \)? Wait, no, wait: \( 295000\times0.17 = 295000\times\frac{17}{100}=2950\times17 = 50150 \)? Wait, no, let's recalculate: 295000 0.17. 295000 0.1 = 29500, 295000 0.07 = 20650. Then 29500 + 20650 = 50150. Wait, but the options have $50,150? Wait, the options: one is $50,150? Wait, the original problem's options: let's check. The options are $28,150, $39,150, $57,150, $50,150. Wait, maybe I miscalculated. Wait, 295000 0.17: 295000 17 = 29500010 + 2950007 = 2,950,000 + 2,065,000 = 5,015,000. Then divide by 100: 5,015,000 / 100 = 50,150. So the down payment is $50,150? Wait, but let me check again. Wait, 295,000 * 0.17: 295,000 * 0.1 = 29,500; 295,000 * 0.07 = 20,650. 29,500 + 20,650 = 50,150. Yes. So the correct calculation is 295000 * 0.17 = 50150, which is $50,150. Wait, but maybe I made a mistake? Wait, no, 295000 0.17: let's do 295000 0.17. 295000 0.1 = 29500, 295000 * 0.07 = 20650. 29500 + 20650 = 50150. So the down payment is $50,150.

Answer:

\$50,150 (corresponding to the option with \$50,150, likely the last option)