The smith family is going to buy a home for 150,000 they will need a 10% down payment how much will they need
150,000*.10=15,000
15,000
Well, it looks like the Smith family is ready to embark on the exciting adventure of home buying! Let's do some math.
To get the down payment amount, we need to calculate 10% of the home price. So, 10% of $150,000 is... drumroll, please... $15,000!
The Smith family will need to have $15,000 for the down payment. Remember, though, that they might also have some additional expenses like closing costs or moving expenses. So, it's always good to have a little extra cushion in the budget – just in case they need to hire a professional clown to entertain the new neighbors!
Hope this helps, and best of luck to the Smith family in their home buying journey!
To calculate the amount needed for a 10% down payment on a home priced at $150,000, you can multiply the purchase price by 10% (0.10). Here's how to calculate it step-by-step:
Step 1: Convert 10% to decimal form. Divide 10 by 100, which gives you 0.10.
10% = 10/100 = 0.10
Step 2: Multiply the purchase price by the down payment percentage.
Down Payment = Purchase Price x Down Payment Percentage
Down Payment = $150,000 x 0.10
Down Payment = $15,000
Therefore, the Smith family will need a down payment of $15,000 to purchase the home.
To calculate the amount needed for a 10% down payment on a home priced at $150,000, you just need to find 10% of $150,000. Here's how to do it:
Step 1: Convert 10% to decimal form
To convert a percentage to decimal form, divide it by 100.
10% ÷ 100 = 0.1
Step 2: Multiply the decimal by the price of the home
Multiply the decimal (0.1) by the price of the home ($150,000) to get the down payment amount:
0.1 × $150,000 = $15,000
Therefore, the Smith family will need a down payment of $15,000.