Properly Writing One Half of One Percent

Timbre

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My HOA has put forth a proposal to charge a one half of one percent of the selling price fee each time a house is sold. I know what that means and how that translates to a real life example of a house that sells for $300,000 would pay a $1,500 fee.

The HOA in their formal language proposal states a ".5% fee." Is .5% the same as .005 or one half of one percent, which is their intent. What is the best way to write their intent mathematically/numerically so everyone is clear that proposed fee is one half of one percent? I don't know if it's proper to have both a decimal and percent symbol at the same time.
 
½% = 1%/2 = 0.5% = 0.005

The language is confusing.

Selling Price Fee - What is this? Points? Commission?
Do you mean the HOA fee is ½% of the selling price?

Personally, I would insist that the language is changed to be less confusing. Maybe:

"...charge a fee of one half of one percent of the selling price..."
 
x% = x/100 for any number x.

So .5% = .5/100 = .5/100. (move the decimals two places to the left) = .005/1 = .005. So yes, .5% = .005

Another way to see this: 1% = .01 = .010. So 1/2 % = .005
 
½% = 1%/2 = 0.5% = 0.005

The language is confusing.

Selling Price Fee - What is this? Points? Commission?
Do you mean the HOA fee is ½% of the selling price?

Personally, I would insist that the language is changed to be less confusing. Maybe:

"...charge a fee of one half of one percent of the selling price..."


Yes, the HOA fee is 1/2% of the selling price.

Writing out "one half of one percent of the selling price" would definitely be the easiest way for people to understand.

Numerically, do you think most people with at least a 12th grade education would be able to comprehend that .5% means "one half of one percent"
 
Yes, the HOA fee is 1/2% of the selling price.

Writing out "one half of one percent of the selling price" would definitely be the easiest way for people to understand.

Numerically, do you think most people with at least a 12th grade education would be able to comprehend that .5% means "one half of one percent"
Personally I think of it as one-half percent rather than one-half of one percent. The later is way too complicated for me.

Since many people think that .50c (c=cents) means fifty cents I wonder how many will understand .5%, especially if you put .50%.
 
Contracts frequently specify such numbers in two ways

"one half of one percent (0.5%) of the selling price"

to avoid this sort of perplexity. Because judges and juries are frequently close to innumerate, complicated computations may be further clarified by example.

"The fee shall be one half of one percent (0.5%) of the selling price. For example, if the selling price is $300,000.00, the fee shall be 0.5 * $300,000 / 100 = $1500.00."

This is not a math problem, but a problem in clear and exact description.
 
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