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Math Help - Mortgages Deposit

  1. #1
    zzp
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    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 ?
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  2. #2
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    e^(i*pi)'s Avatar
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    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
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  3. #3
    zzp
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    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
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  4. #4
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    e^(i*pi)'s Avatar
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    Quote Originally Posted by zzp View Post
    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
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  5. #5
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    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!
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