how much money is needed to make a 18% down payment on a $400,000 asset? down payment = $?
how much money is needed to make a 18% down payment on a $400,000 asset? down payment = $?
Answer
Explanation:
Step1: Convert percentage to decimal
To use the percentage in a calculation, convert 18% to a decimal. 18% = 0.18.
Step2: Calculate down - payment
Multiply the asset value by the decimal form of the percentage. The asset value is $400,000. So, the down - payment is $400000\times0.18$. $400000\times0.18 = 72000$
Answer:
$72000$