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Our mortgage rate dropped from 5% APR to 3.25% APR. What is the percent of decrease in our mortgage?

Our mortgage rate dropped from 5% APR to 3.25% APR. What is the percent of decrease in our mortgage?
asked 205k views
17 votes
Our mortgage rate dropped from 5% APR to 3.25% APR. What is the percent of decrease in our mortgage?

asked
User Trevon
by
8.0k points

2 Answers

13 votes
it would be 0.0175%

you subtract them 5% - 3.25% = 0.0175%
answered
User Kyb
by
8.5k points
6 votes

Answer:

1 3/4.

Explanation:

all you need to do is subtract

answered
User Igor Soloydenko
by
7.9k points
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