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Eddi Din [679]
2 years ago
15

Mary is purchasing a home for 145000 she is in the process of selling her present home for 85000 what will her down payment equa

l if she puts down 40% answer
Business
1 answer:
weqwewe [10]2 years ago
5 0
<span>58000 The key to this problem is ignoring information that doesn't apply to the problem. We're looking for 40% of the purchase price for Mary's new home. We don't care about how much she's selling the old home for. So we just need to calculate 40% of 145000, so 40% * 145000 = 0.40 * 145000 = 58000 So the 40% down payment on her new 145000 house is 58000</span>
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Entry for december 1, 2021:

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Explanation:

Entry for december 1, 2021:

Purchase Inventory=$853,000

Liability on purchase commitment=$902,900-$853,000

Liability On purchase commitment=$49000

Cash=$902,900

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