how much money is needed to make a 30% down payment on a $820,000 asset? down payment = $?
how much money is needed to make a 30% down payment on a $820,000 asset? down payment = $?
Answer
Explanation:
Step1: Identify the formula
Down - payment = Asset value×Down - payment percentage
Step2: Substitute the values
The asset value is $820000$ and the down - payment percentage is $30%=0.3$. So, Down - payment = $820000\times0.3$
Step3: Calculate the result
$820000\times0.3 = 246000$
Answer:
$246000$