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Carson wants to buy a car for $17,500, but can only get a loan from the bank for $14,000. What percentage does Carson have to put down in order to pay for the car? Answer:

Carson wants to buy a car for $17,500 \$ 17,500 , but can only get a loan from the bank for $14,000 \$ 14,000 . What percentage does Carson have to put down in order to pay for the car?\newlineAnswer:

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Q. Carson wants to buy a car for $17,500 \$ 17,500 , but can only get a loan from the bank for $14,000 \$ 14,000 . What percentage does Carson have to put down in order to pay for the car?\newlineAnswer:
  1. Calculate Down Payment: We know:\newlineTotal car price: $17,500\$17,500\newlineLoan amount: $14,000\$14,000\newlineTo find out how much Carson has to pay as a down payment, we subtract the loan amount from the total car price.\newlineDown payment = Total car price - Loan amount\newline= $17,500\$17,500 - $14,000\$14,000\newline= $3,500\$3,500
  2. Find Percentage of Total Price: Now we need to calculate what percentage $3,500\$3,500 is of the total car price of $17,500\$17,500.\newlinePercentage down payment = Down paymentTotal car price×100\frac{\text{Down payment}}{\text{Total car price}} \times 100\newline= ($3,500$17,500)×100\left(\frac{\$3,500}{\$17,500}\right) \times 100\newline= 0.2×1000.2 \times 100\newline= 20%20\%

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