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Basic Math/percentages

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Expert: Josh - 10/18/2006


Question
I am trying to figure out what the appraisal of my home needs to be.  I need my principal to be 80% of the appraisal.  I owe $136,5000.  I don't know the formula to figure it out.  Any help would be great, I am terrible at math!

Answer
Hi Cindy,

If the house costs you 1.365 million, and you want this to be 80% of the appraisal, then, the appraisal should be 1.365/0.80 (about 1.7 million dollars or $1,706,250 to be exact).

If instead, the house costs you $136,500, then, the appraisal (given by the same formula) should be $170,625.

Regards

Basic Math

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Josh

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When I work through problems, I like to emphasize concepts which I believe are worth noting. I will try to answer questions in the following areas, but not at the advanced level. Algebra. Sequences & Series. Trigonometry. Functions & Graphs. Coordinate Geometry. Quadratic Polynomials. Exponential & Logarithms. Basic Calculus. Probability, Permutation and Combination. Mathematical Induction. Complex numbers. Physics problems.

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I have worked as a teaching assistant in college. My hope is that more people will share knowledge without boundary, give help without seeking recognition or monetary rewards.

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Bachelor degree in Engineering Science

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