SOLUTION: I do not understand word problems very well and I was wondering if you could help me. Here's the question. The house that a couple wants to buy is selling for $240,000. They nee

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: I do not understand word problems very well and I was wondering if you could help me. Here's the question. The house that a couple wants to buy is selling for $240,000. They nee      Log On


   



Question 496045: I do not understand word problems very well and I was wondering if you could help me. Here's the question.
The house that a couple wants to buy is selling for $240,000. They need to put 1/20 (fraction) of the selling price down, and take out a mortgage for the rest. How much money do they need to put down?

Answer by chessace(471) About Me  (Show Source):
You can put this solution on YOUR website!
Multiply the fraction times the amount = (1/20) * $240,000
= $240,000 / 20 = $12,000