Answer: 10.8%
Step-by-step explanation:
The question is asking what the percentage of the down payment is of the purchase price of the house.
For such a question, the purchase price needs to be known.
We shall therefore assume a purchase price and you can use the process to find out your percentage.
Assume the purchase price is $1,000,000.
The percentage would be:
= Down payment / Purchase price * 100%
= 108,000 / 1,000,000
= 10.8%
