The interest rate on a second mortgage was 5 3/4% last year?

This year the interest rate is 8 1/4%. How many percentage points has the interest rate increased?

The interest rate on a second mortgage was 5 3/4% last year?

2 1/2

5 3/4 = 5.75

8 1/4 = 8.25

8.25-5.75 = 2.5 (2 1/2)

The interest rate on a second mortgage was 5 3/4% last year?

2 1/4

The interest rate on a second mortgage was 5 3/4% last year?

This is a simple subtraction problem, hon. If that is stumping you, it%26#039;s really time to talk with your teacher.