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Rashon wants to buy a car for $20,000. If he wants to make a down payment of 21%, then how much does Rashon need to borrow from the bank? Answer:

Rashon wants to buy a car for $20,000 \$ 20,000 . If he wants to make a down payment of 21% 21 \% , then how much does Rashon need to borrow from the bank?\newlineAnswer:

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Full solution

Q. Rashon wants to buy a car for $20,000 \$ 20,000 . If he wants to make a down payment of 21% 21 \% , then how much does Rashon need to borrow from the bank?\newlineAnswer:
  1. Calculate Down Payment: Determine the amount of the down payment by calculating 2121% of $20,000\$20,000. To find 2121% of $20,000\$20,000, we multiply 20,00020,000 by 0.210.21. Calculation: $20,000×0.21=$4,200\$20,000 \times 0.21 = \$4,200
  2. Determine Borrowing Amount: Subtract the down payment from the total price of the car to find out how much Rashon needs to borrow.\newlineCalculation: $20,000\$20,000 - $4,200\$4,200 = $15,800\$15,800
  3. Check Calculations: Check the calculations for any mathematical errors.\newlineDown payment calculation check: $20,000×0.21=$4,200\$20,000 \times 0.21 = \$4,200 (Correct)\newlineAmount to borrow calculation check: $20,000−$4,200=$15,800\$20,000 - \$4,200 = \$15,800 (Correct)

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