Question

how much money is needed to make a 20% down payment on a $180,000 asset?
down payment = $?

Explanation:

Step1: Convert percentage to decimal

To find 20% of a number, we first convert 20% to a decimal. 20% is equal to $0.20$ (since $20\%=\frac{20}{100} = 0.20$).

Step2: Multiply by the asset value

We then multiply this decimal by the value of the asset, which is $180,000$. So the calculation is $180000\times0.20$.
Calculating $180000\times0.20 = 36000$.

Answer:

$36000$