Question

Jessica decided to use 15% of her gross income for her down payment for a house. She makes 48,960.00 per year. How much money did jessica's budget allow for the down pyment

Answer 1

Answer:

$Down\ payment = 7,344$

Step-by-step explanation:

Let x be the amount of 15% of gross income.

Given:

Jessica gross income = 48,960.00

She decided to use 15% amount as down payment.

We need to find the amount of 15% of gross income.

Solution:

Using percentage formula.

$percentage = (\frac{Value}{Total\ value})\times 100$

Now we substitute 15 in the place of percentage and 48,960 in the place of Total value.

$15=(\frac{x}{48960})\times 100$

Now, we apply cross multiplication rule.

$x= \frac{48960\times 15}{100}$

$x=48960\times 0.15$

$x =7,344$

Therefore: Down payment is 7,344.