Question

how much money is needed to make a 10% down payment on a $575,000 asset?
down payment = $?

Explanation:

Step1: Convert percentage to decimal

To find 10% of a number, we first convert 10% to a decimal. 10% is equal to $0.1$ (since $10\%=\frac{10}{100} = 0.1$).

Step2: Multiply by the asset value

We multiply this decimal by the value of the asset, which is $575,000$. So the calculation is $575000\times0.1$.
$575000\times0.1 = 57500$

Answer:

$57500$