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MLO Test > Section 8 Unit 1 Introduction to Mortgage Math > Flashcards

Section 8 Unit 1 Introduction to Mortgage Math Flashcards

1
Q

Annual Interest Amount

A

= Interest rate * loan Amount

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2
Q

Converting Percentages into Decimals

A

Move the decimal point to two places to the left and drop the percentage sign

5% = .05

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3
Q

Convert Decimals into Percentages

A

Move to two places to the right and add percentage sign

Of multiply the number by 100

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4
Q
A
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MLO Test (34 decks)

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