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 h
1 answer:
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
<h3>What is a percentage?</h3>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 %.
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