Posted by m on Thursday, November 4, 2010 at 3:35pm.
Stephen said that the ratio of his mortgage to the sales price of his house is 7 to 6. Is this reasonable? Explain your answer.
I said yes it is reasonable. Stephen would pay 7 dollars for every 6 he borrowed. We don't know the sales price or how long the mortgage is and we can only go with the information given. Is this right?

math  PsyDAG, Friday, November 5, 2010 at 11:48am
A mortgage does not include the interest. With that ratio, Stephen would have a $70,000 mortgage for a $60,000 house. Does that sound reasonable to you?
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