Answer:
Justin needs $22,400 for the down payment on the house.
Explanation:
To find out the amount of money Justin needs for the down payment, we can use the following formula:
Down payment amount = (down payment percentage / 100) x total cost of the house
Given that Justin needs a 20% down payment on a house that costs $112,000, we can substitute the values into the formula:
Down payment amount = (20 / 100) x $112,000
Simplifying the expression within the parentheses, we get:
Down payment amount = 0.20 x $112,000
Multiplying 0.20 by $112,000, we get:
Down payment amount = $22,400
Therefore, Justin needs $22,400 for the down payment on the house.