Math-challenged Americans more likely to end up in foreclosure ?

jeff of pa

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This would probably fit in Comedy Central also :laughing7:

Can Americans who have trouble dividing 300 by 2 even fill out a loan application ? :tongue3:
Perhaps if Americans can't divide 300 by 2 , Financing to the school they
Graduated from should be cut off :BangHead:

=========the Story=========

Americans who have trouble dividing 300 by 2 are much more likely to end up in foreclosure than consumers with average math skills, a new study has found. The research is among the first to directly link mortgage trouble and financial literacy, according to its authors.

The study also found that math skills were a better predictor of foreclosure than type of mortgage, a result that takes blame away from so-called "risky" mortgages, such-as interest-only loans or adjustable rate mortgages.



Take the Test:


1. In a sale, a shop is selling all items at half price. Before the sale, a sofa costs $300. How much will it cost in the sale?

2. If the chance of getting a disease is 10 per cent, how many people out of 1,000 would be expected to get the disease?
3. A second-hand car dealer is selling a car for $6,000. This is two-thirds of what it cost new. How much did the car cost new?
4. If 5 people all have the winning numbers in the lottery and the prize is $2 million, how much will each of them get?
5. Let's say you have $200 in a savings account. The account earns 10 percent interest per year. How much will you have in the account at the end of two years?


=========================



would you loan money to anyone who can't do these in their head ?:laughing7:
if you would, how about lending me a million or 2

I consider myself "Math Challenged" I can't do algebra

Seriously ? do you call being able to answer these questions Having "Math Skills" ?
isn't this 1st. Grade math ? 2nd. Grade ?

If someone can't answer these 5 questions ?
how do they know not to drool on the application ?



Math-challenged Americans more likely to end up in foreclosure - Red Tape
 

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