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Josue wants to buy a car for $12,000, but can only get a loan from the bank for $10,080. What percentage does Josue have to put down in order to pay for the car? Answer:

Josue wants to buy a car for $12,000 \$ 12,000 , but can only get a loan from the bank for $10,080 \$ 10,080 . What percentage does Josue have to put down in order to pay for the car?\newlineAnswer:

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Q. Josue wants to buy a car for $12,000 \$ 12,000 , but can only get a loan from the bank for $10,080 \$ 10,080 . What percentage does Josue have to put down in order to pay for the car?\newlineAnswer:
  1. Calculate Down Payment: We know:\newlineTotal car price: $12,000\$12,000\newlineLoan amount: $10,080\$10,080\newlineTo find out how much Josue 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= $12,000\$12,000 - $10,080\$10,080\newline= $1,920\$1,920
  2. Calculate Down Payment Percentage: Now we need to calculate the down payment as a percentage of the total car price. \newlineDown payment percentage = (Down payment/Total car price)×100(\text{Down payment} / \text{Total car price}) \times 100 \newline= ($1,920/$12,000)×100(\$1,920 / \$12,000) \times 100 \newline= 0.16×1000.16 \times 100 \newline= 16%16\%

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