how much money is needed to make a 5.5% down payment on a $165,000 asset? down payment = $?
how much money is needed to make a 5.5% down payment on a $165,000 asset? down payment = $?
Answer
Explanation:
Step1: Convert percentage to decimal
$5.5%=0.055$
Step2: Calculate down - payment
$165000\times0.055 = 9075$
Answer:
$9075$