an on - terrain vehicle sells for $35000 and a 10% down payment is made. a 30 - year mortgage at 4.5% is…

an on - terrain vehicle sells for $35000 and a 10% down payment is made. a 30 - year mortgage at 4.5% is obtained. do not round intermediate calculations. round your answers to (a) - (b) to two decimal places, if necessary. use the formula below as needed.\nm=\frac{p\frac{r}{n}}{1-(1 + \frac{r}{n})^{-nt}}\npart: 0 / 4\npart 1 of 4\n(a) find the down payment.\nthe down payment is $

an on - terrain vehicle sells for $35000 and a 10% down payment is made. a 30 - year mortgage at 4.5% is obtained. do not round intermediate calculations. round your answers to (a) - (b) to two decimal places, if necessary. use the formula below as needed.\nm=\frac{p\frac{r}{n}}{1-(1 + \frac{r}{n})^{-nt}}\npart: 0 / 4\npart 1 of 4\n(a) find the down payment.\nthe down payment is $

Answer

Explanation:

Step1: Identify the down - payment formula

The down - payment is a percentage of the home price.

Step2: Calculate the down - payment

The home price is $350000$ and the down - payment percentage is $10%$ or $0.1$. The down - payment $D$ is calculated as $D = 0.1\times350000$. $D=0.1\times350000 = 35000$

Answer:

$35000$