hello quizlet
Home
Subjects
Expert solutions
Create
Study sets, textbooks, questions
Log in
Sign up
Upgrade to remove ads
Only $35.99/year
North Carolina Real Estate Pre-Licensing Math Formulas
Flashcards
Learn
Test
Match
Flashcards
Learn
Test
Match
Terms in this set (28)
Cubic Volume
Area=Length x Width x Height
realize 9"/12" = .75"
1 cubic yard = 27 cubic feet
56x40.5x.75=1701
1701/27=63
63/9=7 Truck yards
Cubic Feet
=1728 cubic Inches
Cubic Yard
= 27 cubic Feet
3 Ft.
= 1 yard
...
i.e... 56x40.5=2268
2268x.75=1701 Cubic Feet
1701 Cubic Feet /27=63 cubic yard
63/9 cubic yards = 7 truck loads
Rectangles
Area=Length x Width
Triangles
Area=1/2 (Base x Height)
i.e..
Area=1/2 (600x720)=432,000
Area=432000/2=216000
Area=216000/43560=4.96
7000x4.96=34720
34,720/600=57.87
Trapizoid
Area=(base 1 + base 2)/2xheight
i.e...
(750x500) =1250
1250/2=625x225=140625
140625/43560=3.23
COMMISSION
SALES X RATE OF COMMISSION
RATE OF COMMISSION =
COMMISSION/SALES PRICE
SALES PRICE =
COMMISSION/RATE OF COMMISSION
Finance Formulas= 3 of them
...
Interest=
Principal x rate x time
Interest=
Principal x rate / 12 mos.
use to figure monthly interest due on a mortgage loan
P & Interest=
Loan amount /1000x the loan
used to figure payments.
Principal & Interest
Base Rate Formula:
Amt. Rec'd=Base x Rate
FIND: Profit/Loss, rates of return on equity, rates of appreciation/depreciation, Income approach to Valuing Properties.
Amt. received is anything received. (Profit/Loss)
Base is starting the begining of the Point. i.e... Purchasing Price
Rate will be a percentage.
Interim Interest:
Loan Amount x Interest Rate /360 x number of days (Buyers pays).
All Pro-rations between buyer & Seller.
Seller is responsible for the day of closing.
NO EXCEPTIONS
REAL ESTATE TAXES
Annual Taxes = Taxes Value x Rate
100
i.e.... 96450/100=964.50
964.50x1.19=1147.76
i.e... 108770/100=108.77
108.77x.0083=902.79
902.79/360=2.51%
REAL ESTATE TAXES
AD VALOREM= 100 x tax value= assessed value
1/1000
Machinery Act
Ad Valorem that is, according to value. North Carolina's Statue, known as Machinery Act.
Mill Rate
Is a tax rate based upon 1/10th of one cent, or one mill. This equate 0ne-thousandth of a dollar. i.e..
.1x.01=.001 one mill
2 places to the left decimal
Mill Rate
Out of state or other states.(1000) Tax Rate 3 places to the left
Revenue Taxes or aka/ Excise Tax
Excise Tax=Sales Price/500
(Revenue Tax)
Round Up to the next full dollar.ie...322.34 = 323.
Always charge the Seller
State Tax transfers Title to Real Property (Deed)
500 Value
You can use it 1 time only
Acre
43560 sq. feet
1 section
640 acres
1/4 Section of the full section
160 acres
1 mile
5280 sq. feet
36 sq. sq miles
6x6
Sets found in the same folder
North Carolina Real Estate License Laws and NCREC…
42 terms
NC Real Estate Exam
188 terms
Real Estate Test Practice
119 terms
NC Real Estate Math
16 terms
Other sets by this creator
300 Hour Yoga Exam
26 terms
North Carolina Real Estate License Law
87 terms
NC Real estate review appendix A
50 terms
North Carolina Real Estate Rules and Regulations -…
56 terms
Recommended textbook solutions
College Algebra Enhanced with Graphing Utilities
6th Edition
•
ISBN: 9780321832115
Michael Sullivan, Michael Sullivan III
7,232 solutions
Calculus, Volume 2: Multi-Variable Calculus and Linear Algebra with Applications to Differential Equations and Probability
2nd Edition
•
ISBN: 9780471000075
Tom M. Apostol
1,036 solutions
Statistical Techniques in Business and Economics
15th Edition
•
ISBN: 9780073401805
(8 more)
Douglas A. Lind, Samuel A. Wathen, William G. Marchal
1,236 solutions
Algebra and Trigonometry
5th Edition
•
ISBN: 9780321837240
(2 more)
Robert F. Blitzer
10,855 solutions