how much money is needed to make a 4.5% down payment on a $210,000 asset? down payment = $?
how much money is needed to make a 4.5% down payment on a $210,000 asset? down payment = $?
Answer
Explanation:
Step1: Convert percentage to decimal
To convert 4.5% to a decimal, divide by 100. So $4.5%=\frac{4.5}{100}=0.045$.
Step2: Calculate down - payment
Multiply the asset price by the decimal form of the down - payment percentage. The asset price is $210000$. So the down - payment is $210000\times0.045$. $210000\times0.045 = 9450$.
Answer:
$9450$