I need to know what my payments will be!?!?

Question

Hi. Just to let you know I know I should know this, but I fail at life. So, I need help...Okay by balance is $505.49. My payments will be 3 percent of that total! I just need to know what my payments will be! That is all!

Really I suck at math! Help would be great thanks!

Answer 1

3 percent of 505.95 = 15.1647   (.03 multiply with 505.95)

Payments are usually round up so, 15.17

Answer 2

Look: here is the EASIEST way to do percentages in to world.  If you can remember 2 things, you can figure out percentages any time, any where without a calculator.  I'll try to make this quick and simple...

1. To find 10% of something, move the decimal over one place (so 10% of 100 is 10.  10% of 150 is 15.  10% of 435 is 43.5).  Got it?

2. To find 1% of something, move the decimal over one place ( so 1% of 100 is 1.  1% of 150 is 1.5.  1% of 435 is 4.35)  Got it?

Now, you can figure out any percentage by using these 2 steps.  Again, all this involves is some easy multiplication and/or addition.

  Here is how it works: if you need to know 20% of something, just find 10% and DOUBLE it (so, what is 20% of 150?  well, 10% of 150 is 15.  Double that, and it becomes 30.  So, 20% of 150 is 30).  If you want to know 30% of something, find 10% and triple it.  So on and so on.

The same thing is true for the other rule.  So, if you want to find 2% of something, find 1% and then double it (so, what is 2% of 435?  EASY! 1% of 435 is 4.35.  Double that, and it become 8.7.  So 2% of 435 is 8.7).

Here is the last thing: combine these steps to find things like 12% and 28%.  

So, if you wanted to find out 12% of 200 what do you do? Simple!  Find 10% (which is 20).  Find 1% (which is 2) and double it (which makes 4).  Then add those numbers together: 20 + 4 = 24.  So 12% of 200 is 24.

28% of 200?  Find 10% (which is 20) and double it (which makes 40).  Find 1% (which is 2) and multiply by 8 (which makes 16).  40+16 = 56.  So, 28% of 200 is 56.

So, for your problem: 3% of $505.49.  Find 1% of $505.49 by moving the decimal 2 places.  You have $5.0549.  Triple that (i.e. multiply $5.0549 by 3) and THAT is your answer.