Mortgage Loan

A Maths Starter of The Day

10% of $32000 =
20% of $32000 =
30% of $32000 =
40% of $32000 =
50% of $32000 =
60% of $32000 =
70% of $32000 =
80% of $32000 =
90% of $32000 =
100% of $32000 =

10% of $32000 =
5% of $32000 =
2.5% of $32000 =
1.25% of $32000 =
0.625% of $32000 =

No calculator

Work out the answers to these calculations in your head or on paper.

There are many uses for percentages in real life. Finding the best mortgage loan for example requires an ability to calculate percentages. A mortgage is the money you might borrow from a bank or building society to pay for a house. This mortgage loan would be paid back to the bank over a number of years plus an interest amount calculated as a compound percentage.

 

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Keywords: Starter | Money | Percentages

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    ANSWERS

    10% of $32000 = $3200
    20% of $32000 = $6400
    30% of $32000 = $9600
    40% of $32000 = $12800
    50% of $32000 = $16000
    60% of $32000 = $19200
    70% of $32000 = $22400
    80% of $32000 = $25600
    90% of $32000 = $28800
    100% of $32000 = $32000

    10% of $32000 = $3200
    5% of $32000 = $1600
    2.5% of $32000 = $800
    1.25% of $32000 = $400
    0.625% of $32000 = $200

    Note to teacher: Doing this activity once with a class helps students develop strategies. It is only when they do this activity a second time that they will have the opportunity to practise those strategies. That is when the learning is consolidated. Click the button above to regenerate another version of this starter from random numbers.

    More practice needed? Try "Quick Percentages"

    www.transum.org/go/?to=percentages