how much money is needed to make a 2.5% down payment on a $900,000 asset? down payment = $?

how much money is needed to make a 2.5% down payment on a $900,000 asset? down payment = $?

how much money is needed to make a 2.5% down payment on a $900,000 asset? down payment = $?

Answer

Answer:

$22,500$

Explanation:

Step1: Convert percentage to decimal

$2.5%=\frac{2.5}{100}=0.025$

Step2: Calculate down - payment

$0.025\times900000 = 22500$