Mortgage Loan

A Maths Starter of The Day

10% of $48000 =
20% of $48000 =
30% of $48000 =
40% of $48000 =
50% of $48000 =
60% of $48000 =
70% of $48000 =
80% of $48000 =
90% of $48000 =
100% of $48000 =

10% of $48000 =
5% of $48000 =
2.5% of $48000 =
1.25% of $48000 =
0.625% of $48000 =

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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Topics: Starter | Percentages

  • Fiona Ryan, Moonta Area School
  • Thursday, August 25, 2011
  • "I used this activity as a calculator skills activity for my Special Education class."

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ANSWERS

10% of $48000 = $4800
20% of $48000 = $9600
30% of $48000 = $14400
40% of $48000 = $19200
50% of $48000 = $24000
60% of $48000 = $28800
70% of $48000 = $33600
80% of $48000 = $38400
90% of $48000 = $43200
100% of $48000 = $48000

10% of $48000 = $4800
5% of $48000 = $2400
2.5% of $48000 = $1200
1.25% of $48000 = $600
0.625% of $48000 = $300

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=percent