# Mortgages Deposit

• Nov 14th 2010, 02:48 AM
zzp
Mortgages Deposit
Hi all

I'm trying to work out how much x is x% of. The question relates to mortgages - if I have $40,000 and the deposit required is 35% how can I work out the full amount.$40,000 is 35% of ?
• Nov 14th 2010, 03:02 AM
e^(i*pi)
Your question needs to be clearer. Is the $40,000 the deposit which in turn is 35% of the full amount? If so the full amount is given by: $0.35x = 4 \times 10^4$. This formula was used because 35% is the same as 0.35 and I've assumed the deposit is$40000

Solve for x
• Nov 14th 2010, 03:15 AM
zzp
Yes - $40,000 is the deposit which is 35% of the full amount. I think I've worked it out - I had a complete mental block, I don't use math in my job and if you don'y use it you lose it. I have$40,000 and for the mortgage I need a 35% deposit. I was having a mental block on how much I could borrow.

(40,000/35)*100 = 114,285

I could borrow $114,285 • Nov 14th 2010, 03:30 AM e^(i*pi) Quote: Originally Posted by zzp Yes -$40,000 is the deposit which is 35% of the full amount.

I think I've worked it out - I had a complete mental block, I don't use math in my job and if you don'y use it you lose it.

I have $40,000 and for the mortgage I need a 35% deposit. I was having a mental block on how much I could borrow. (40,000/35)*100 = 114,285 I could borrow$114,285

And 71 cents (Wink)
• Nov 14th 2010, 05:45 AM
Wilmer
You can always "experiment" with something simpler;
like, you know 2 is 1/4 or 25% of 8, right?
.25x = 2
x = 2/.25 = 8
Same "simplicity" applies to any large weird amounts!