Question

Ou have found a house that you would like to purchase. The amount of the home is $225,000. You would like to finance the home through your local credit union but they require a 10% down payment. Determine the amount needed for the down payment so that the bank will finance the home purchase. A. $22,500 c. $225,000 b. $202,500 d. $2,250

Answer 1

A. $22,500

Explanation:

10% = 10/100 = 1/10

To divide a decimal number by 10, move the decimal point one place to the left (remove a zero):

$225000./10 = $22500.0 = $22500