You can't just multiply percents, they have to be expressed in decimal formats (or fractions) to perform mathematical functions. For example, 5% x 100 = .05 x 100 = 5. So when you express your formula in percentages, what you are saying is [.04 + .01] x [.04 + .04 + .04 + .04 + .04] =.05 x .20 = .01. To express that as a percent, you would multiply by 100. .01 x 100 = 1%. In other words, 5% x 20% = 1% -- meaning your formula doesn't work using percentages. This is basic math, Brad, how do you not know this?