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Kaj wants to buy a car for $11,000, but can only get a loan from the bank for $10,120. What percentage does Kaj have to put down in order to pay for the car? Answer:

Kaj wants to buy a car for $11,000 \$ 11,000 , but can only get a loan from the bank for $10,120 \$ 10,120 . What percentage does Kaj have to put down in order to pay for the car?\newlineAnswer:

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Q. Kaj wants to buy a car for $11,000 \$ 11,000 , but can only get a loan from the bank for $10,120 \$ 10,120 . What percentage does Kaj have to put down in order to pay for the car?\newlineAnswer:
  1. Calculate Total Price: First, we need to determine the total price of the car and the amount the bank is willing to loan to Kaj.\newlineTotal price of the car: $11,000\$11,000\newlineLoan amount from the bank: $10,120\$10,120
  2. Calculate Down Payment: Next, we calculate the down payment Kaj needs to make by subtracting the loan amount from the total price of the car.\newlineDown payment = Total price of the car - Loan amount\newlineDown payment = $11,000\$11,000 - $10,120\$10,120\newlineDown payment = $880\$880
  3. Find Percentage: Now, we need to find out what percentage the down payment is of the total price of the car.\newlinePercentage down payment = (Down payment/Total price of the car)×100(\text{Down payment} / \text{Total price of the car}) \times 100\newlinePercentage down payment = ($880/$11,000)×100(\$880 / \$11,000) \times 100
  4. Perform Calculation: Perform the calculation to find the percentage.\newlinePercentage down payment = (880/11,000)×100(880 / 11,000) \times 100\newlinePercentage down payment = 0.08×1000.08 \times 100\newlinePercentage down payment = 8%8\%

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