Answer : He have not enough money for the down payment.
Step-by-step explanation :
As we are given that:
Purchase price of boat = $1420
Down payment rate = 20%
As we know that the down payment is the product of purchase price and down payment rate.
Down payment = Purchase price × 20%
Down payment = $1420 × 0.20
Down payment = $284
From this we conclude that the saving money is less than the down payment. So, he have not enough money for the down payment.
Hence, he have not enough money for the down payment.
