Question

Mr. and mrs. lorenzo want to buy a home valued at $213,500. if they have 18% of this amount saved for a down payment, how much have they saved?

Answer 1

Mr. and Mrs. Lorenzo have saved $38,430 for the home they want to buy

Information about the problem:

• Initial cost = $213,500
• Savings = 18%.
• Final savings =?

To solve this exercise we have to apply the percentage formula:

Final savings = initial cost * savings / 100

Final savings = $213,500 * 18 / 100

Final savings = $213,500 * 0.18

Final savings = $38,430

What is a percentage?

Percentage is defined as the number that represents a ratio of a total that is divided by 100 equal parts. It is represented by the symbol %.

Learn more about percentage at: brainly.com/question/24877689

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