The cabin is worth $730,000. John paid $468,475.00, Sissy paid $251,525.12. What is the percent that each owns?
Mathematics · College · Mon Jan 18 2021
Answered on
Given:
Cabin worth: $730,000
John paid: $468,475.00
Sissy paid: $251,525.12
Determine the percentage that each one owns.
Solution:
In order to determine the percentage that each one owns, we simply divide the payment that they've made by 730,000
John:
= $468,475.00/$730,000
=0.6417
Since we are given a decimal answer, in order to convert it into percentage, we multiply the decimal by 100. Hence, in converting a percentage into decimal, we divide the percentage by 100.
= (0.6417)(100)
= 64.17%
John owns 64.17% of the cabin.
Sissy
= $251,525.12/700,000
=0.3593 (100)
= 35.93%
Sissy owns 35.93% of the cabin.
Final answer:
John owns 64.17% of the cabin.
Sissy owns 35.93% of the cabin.