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Investors buy a studio apartment for $240,000. Of this​ amount, they have a down payment of $24,000. Their down payment is what percent of the purchase​ price? What percent of the purchase price would a ​$96,000 down payment​ be?

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Answer:

The first down payment is 10% of the purchase price.

The second down payment is 40%

Step-by-step explanation:

I divided 240,000 by 100 and got 2,400. So this means 2,400 is one percent of the purchase price. Then, I divided 24,000 by 2,400 and got 10 (making it 10%). I did the same thing and divided 96,000 by 2,400 and got 40 (making it 40%).

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