The Smith family is going to buy a home for 150,000. They will need a 10% down payment. How much will they need?
To calculate the down payment, multiply the purchase price of the home by the down payment percentage:
10% of $150,000 = 10/100 * $150,000 = $<<10/100*150000=15000>>15,000.
Therefore, the Smith family will need a down payment of $15,000.
To calculate the down payment amount, we can multiply the purchase price of the home by the percentage of the down payment required.
Step 1: Get the purchase price of the home
The Smith family is buying a home for $150,000.
Step 2: Calculate the down payment amount
The down payment is 10% of the purchase price.
Down payment = 10% x Purchase price
Substituting the values:
Down payment = 10% x $150,000
Step 3: Calculate the down payment amount
Down payment = 0.10 x $150,000
Step 4: Calculate the down payment amount
Down payment = $15,000
Therefore, the Smith family will need a down payment of $15,000.
To find the down payment amount, you will need to calculate 10% of the total cost of the home.
Step 1: Convert the percentage to a decimal
To convert a percentage to a decimal, you divide it by 100. In this case, 10% is equivalent to 0.10.
Step 2: Calculate the down payment
Multiply the total cost of the home by the decimal form of the down payment percentage.
Down payment = 0.10 × $150,000
Now, we can calculate the down payment:
Down payment = 0.10 × $150,000
= $15,000
Therefore, the Smith family will need a down payment of $15,000.