Kathy and Tommie put down 20%, or $35,000, to purchase a new house. What is the price of the house?
Solve for x.
0.2x = 35,000
x = ?
Is it $175,000?
Yes. That's right! :-)
To find the price of the house, we need to divide the down payment amount by the percentage paid. In this case, Kathy and Tommie put down 20%.
The formula to calculate the price is:
Price of the house = Down payment amount / Percentage paid
In this case, the down payment amount is $35,000 and the percentage paid is 20% (or 0.2 in decimal form).
So, we can calculate the price of the house as:
Price of the house = $35,000 / 0.2
Using division, we find:
Price of the house = $175,000
Therefore, the price of the house is $175,000.