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Enola wants to buy a car for , but can only get a loan from the bank for . What percentage does Enola have to put down in order to pay for the car?Answer:
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Q. Enola wants to buy a car for , but can only get a loan from the bank for . What percentage does Enola have to put down in order to pay for the car?Answer:
- Calculate Down Payment: To find the percentage Enola has to pay as a down payment, we first need to determine the amount of the down payment. This is the difference between the total cost of the car and the amount the bank is willing to loan.Calculation: (total cost) - (loan amount) = (down payment).
- Percentage Formula: Next, we use the percentage formula: . In this case, the ＂Whole＂ is the total cost of the car, and the ＂Part＂ is the down payment Enola needs to make.The formula becomes: .
- Solve for Unknown Percentage: Now, we need to solve for the percentage of the down payment. We use '' to represent the unknown percentage in decimal form.The equation is:
- Divide to Find 'x': To find 'x', we divide both sides of the equation by \$\(25\),\(000\). Calculation: \(x = \frac{\$6,000}{\$25,000}\).
- Convert Decimal to Percentage: Performing the division gives us the decimal form of the percentage.\(\newline\)Calculation: \(x = 0.24\).
- Convert Decimal to Percentage: Performing the division gives us the decimal form of the percentage.\(\newline\)Calculation: \(x = 0.24\).Finally, we convert the decimal to a percentage by multiplying by \(100\).\(\newline\)Calculation: \(0.24 \times 100 = 24\%\).
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