Steve Mason purchased a storage shed for $3,074. He made a 40% down payment and financed the rest. What amount did he finance?

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Business

Guest

6 April, 09:09

Steve Mason purchased a storage shed for $3,074. He made a 40% down payment and financed the rest. What amount did he finance?

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Susie Q · Answer 1

From the situation above, after Steve Mason made a 40% down payment for the purchased storage shed, he will only need to finance 60% of the price which is the remaining amount.

financed amount = (0.60) ($3,074)

The answer to the question above is $1844.4.