Is anyone good at Math? I need help with this question!
By michele609
@michele609 (1687)
United States
February 27, 2008 7:33am CST
I have to do a poject on a mortgage and I got stumped on one of the questions. Here is the question. Please help. Calculate the total amount of interest paid on the house that cost 204,404.40. The interest rate is 55% which is .055.
Do I take the 204,404.40 and times it by .055 to get the answer.
Or take the 204,404.40 and times it by .055 and then subtract the answer from 204,404.40.
Please help!
2 responses
@meemingNEW (2226)
• Philippines
27 Feb 08
Hi there. Maybe I can be of help. Here is what you should do. Multiply 204,404.40 by 55% or .55
204,404.40 x .55 = 112,422.42
Total interest paid is 112,422.42
That's the answer. Goodluck
@michele609 (1687)
• United States
27 Feb 08
I thank you so much! I really apprecatie you taking the time out and helping because i suck at this. Thank god this is my last math class!
@mrtimharry (1180)
•
27 Feb 08
so would have said total interest paid is 204404-131874=72530
of course maybe thinking that the total amount paid of 204404 included the interest.
