how much money is needed to make a 10% down payment on a $200,000 purchase? down payment = $?
how much money is needed to make a 10% down payment on a $200,000 purchase? down payment = $?
Answer
Explanation:
Step1: Identify the formula
Down - payment = Purchase price × Down - payment percentage
Step2: Substitute values
The purchase price is $200000 and the down - payment percentage is 10% or 0.1 in decimal form. So, Down - payment = $200000×0.1
Step3: Calculate the result
$200000×0.1 = 20000$
Answer:
$20000$