Search
Browse
Create
Log in
Sign up
Log in
Sign up
Upgrade to remove ads
Only $0.99/month
Unit 8 Real Estate Math Calculation
STUDY
Flashcards
Learn
Write
Spell
Test
PLAY
Match
Gravity
Key Concepts:
Terms in this set (80)
An office manager was paid 1000 per month plus .0025 of all office sales. in november, she recieved $2780. this amount was based on monthly sales of
a. 556,000.
b. 712,000
c. 912,000
d.112000
b.712,000
What investment is necessary for a yield of $500 per month at 6% interest?
a. 8,333.33
b. 60,000
c. 100000
d. 120000
c. 100000
A 30 acre rectangular parcel has 660 ft on the street side. What is the depth of the parcel in feet?
a. 738.42
b. 963.7
c. 1240
d. 1980
d. 1980
A list price was set to leave the owner with $90,000 after a 6 percent commission was deducted from the sales price. What was the list price?
A. $95,400
B. $95,745
C. $95,905
D. $96,000
B. $95,745
Which is the correct formula to determine the interest rate?
A. Interest rate = Interest earned / Principal
B. Interest rate = Interest earned x Principal x Time
C. Interest rate = Interest earned / Time
D. Interest rate= Interest earned x Time
A. Interest rate = Interest earned / Principal
The next monthly interest payment on a loan balance of$17,835 is $132.28. The interest rate on the loan is
A. 6.78%.
B. 7.4%.
C. 8.9%.
D. 13.48%.
C. 8.9%.
On a 70-foot-by-70-foot rectangular lot, the side yard building setbacks are 10 feet. The front yard setback is 25 feet, and the rear set back is 20 feet. What is the maximum square footage possible for a one-story structure?
A. 1,000
B. 1,200
C. 1,250
D. 4,900
C. 1,250
A women purchased four lots at $12,000 each and divided them into 6 lots that were sold for $9,600 each. What was the women percentage of profit based on his cost?
A. 6%
B. 12%
C. 20%
D. 24%
C. 20%
A man purchased a property for $175,000. The man wishes to sell the property. If he total selling costs will equal 11% of the sales price, how much will the property have to appreciate in value for the man to break even?
A. $19,612
B. $20,311
C. $21,629
D. $23,730
C. $21,629
A mill would be expressed as
A. $0.001
B. $0.01
C. $0.1
D. $1.0
A. $0.001
A house purchased four years ago for $50,000 has increased in value by 10 percent each year since purchase. The house is now worth
A. $66,550.
B. $70,000.
C. $73,205.
D. $90,000
C. $73,205.
Builder J received a bridge loan for $72,500 at 12 percent interest. If his total interest costs were $5,075, how many months did it take J to pay off the loan?
A. 4 months
B. 6 months
C. 7 months
D. 8 months
C. 7 months
A property with a gross annual income of $20,000 has a value of$120,000.The only expense is the 11 percent interest payment on a $100,000 straight mortgage. What is the owner's percentage return on equity?
A. 16.6%
B. 20%
C. 22.2%
D. 45%
D. 45%
A one-acre site has a 40' x 100' rectangular building. The building occupies what percent age of the site?
A. 0.025%
B. 2.5%
C. 9.2%
D. 11.1%
C. 9.2%
D sold a note to E at a 32 percent discount. D received $5,304. What was the amount due on the note?
A. $1,697
B. $6,800
C. $7,420
D. $7,800
D. $7,800
A 50-acre rectangular industrial site fronting on a highway is 1,000 feet deep. Assuming a sales price of $3,000 per acre, what is the price per front foot?
A. $68.87
B. $74.93
C. $150.00
D. $3,443.52
A. $68.87
A fully rented 10-unit apartment building has rents of $500 per unit per month. A 10 percent rent increase brings a 10 percent vacancy factor. The gross income
A. remains the same.
B. increases 1%.
C. increases 9%.
D. decreases 1%.
D. decreases 1%.
A driveway was one-half mile long and was two acres in total area. How wide was the road?
A. 11 feet
B. 21 feet
C. 33 feet
D. 37 feet
C. 33 feet
A six-foot-wide sidewalk is to be constructed inside the perimeter (on the lot Line) of two adjacent sides of a 60' x 100' rectangular corner lot. The sidewalk will contain how many square feet?
A. 900
B. 924
C. 960
D. 1,600
B. 924
A six-foot-wide sidewalk is to be constructed outside the perimeter of two adjacent sides of the lot described in question 19. The sidewalk will contain how many square feet?
A. 960
B. 996
C. 1,032
D. 1,660A six-foot-wide sidewalk is to be constructed outside the perimeter of two adjacent sides of the lot described in question 19. The sidewalk will contain how many square feet?
A. 960
B. 996
C. 1,032
D. 1,660
B. 996
How many cubic yards of concrete are needed in a 30-foot driveway 18 feet wide and 4 inches thick?
A. 7
B. 20
C. 180
D. 540
A. 7
The last monthly interest payment on a mortgage was $825.77.If the interest rate was 7.2 percent. what was the balance due on the principal?
A. $118,764
B. $131,741
C. $137,628
D. $158,730
C. $137,628
J, a seller, and K, a buyer, have agreed to split all closing costs, with the seller paying 60 percent and the buyer paying 40 percent. The costs are as follows: title insurance, $420; fees for drafting and recording documents, $222; miscellaneous costs, $248. How much more will J pay than K?
A. $178
B. $184
C. $196
D. $204
A. $178
L purchased a lot for $9,000, and he listed the lot for sale at 40 percent more than he paid. Unable to find a buyer, be reduced his price by 30 percent. He found a buyer at the reduced price. After paying a 7% commission,
what was the profit or loss?
A. Profit of $207
B. Profit of $270
C. Loss of $180
D. Loss of $797.40
D. Loss of $797.40
J has agreed to buy K's house for $140,000 with a $20,000 down payment. The balance is to be paid under a contract for deed having interest payments only. Interest is to be at 9 1/2 percent, with the total principal amount due in five years. How much interest will j pay under the life of the contract?
A. $46,812
B. $47,500
C. $57,000
D. $64,000
C. $57,000
How many acres is 348,480 square yards?
A. 2.66
B. 8
C. 24
D. 72
D. 72
Builders' blueprints frequently use the scale of 1/4 inch equals 1 foot. If a plan indicated a family room 10 1/2 inches by 3 1/2 inches, what would floor tile cost at $7.60 per square yard?
A. $496.50
B. $622.32
C. $1,489.60
D. $4,468.80
A. $496.50
A salesperson was to receive 30 percent of the office share of the commission for obtaining a Listing. The salesperson listed a house for $185,000, and it was sold for $170,000 by another office with the selling office receiving one-half of the 6 percent commission. The salesperson's Listing commission was
A. $1,530
B. $3,060
C. $3,330
D. $10,200
A. $1,530
A 90' x 60' building needs floor covering. 60 percent of the building will be carpeted at a cost of $16 per square yard, and the remain der will be tiled at a cost of $8 per square yard. The cost of the floor covering will be
A. $2,560.
B. $5,760.
C. $7,680.
D. $23,040
C. $7,680.
A rectangular lot with 80 feet of frontage has adjoining rectangular lots of equal 160-foot depth on each side. One of these side lots contains 12,800 square feet, and the other has 9,600 square feet. The combined front footage of the three lots equals bow many feet?
A. 140
B. 200
C. 220
D. 250
C. 220
A man willed his estate as follows: 54 percent to his wife, 18% to his daughter, and 16 percent to his son and the remainder to his church. The church received $79,000. The daughter received
A. $105,333.
B. $118,500.
C. $355,500.
D. $658,333.
B. $118,500.
A women divided three sections of land into parcels of 20 acres each and then sold 16 of the parcels for $4,000 each. The remainder sold for $5,000 each. What was the total sales price?
A. $64,000
B. $84,000
C. $264,000
D. $464,000
D. $464,000
A 100-acre parcel is to be subdivided. Seventeen percent of the land will be utilized for streets. How many 80' x 120' lots are possible?
A. 349
B. 376
C. 411
D. 437
B. 376
An income property sold for $400,000 to an investor who planned on a 9 percent return on investment. An investor who wanted a 12 per cent return would have paid how much for the property?
A. $300,000
B. $330,000
C. $360,000
D. $400,000
A. $300,000
A broker listed a lot for $23,000 with a 7 percent commission agreement. The broker brought in an offer of $20,000. The owner agreed to accept the offer if the broker paid the delinquent property taxes of $240. The broker agreed. What percentage commission did the broker actually earn on this sale?
A. 5.8%
B. 6.2%
C. 6.4%
D. 6.7%
A. 5.8%
An investor owes $90,000 on a building worth
$120,000. The net income is $6,000, which would give the investor a percentage return on equity of
A. 10%.
B. 20%.
C. 30%.
D. 40%.
B. 20%.
On a real estate closing transaction involving an exclusive right-to-sell listing, the commission is a debit to
a. the buyer and a credit to the seller
b. the seller and a credit to the buyer
c. the seller
d. the buyer
c. the seller
Of the following transactions, which will result in the greatest net proceeds to the seller?
Sales Price Commission Closing Costs
A. $110,000 7% $1,280
B. $108,000 6% $1,308
C. $106,000 4% $820
D. $105,000 3% $980
C. $106,000 4% $820
The monthly amortized payments on a 7 pecent, 30-year, $100,000 amortized loan are $665.31. How much would be paid for interest over the amortization period?
A. $96,851
B. $139,511
C. $159,674
D. $239,511
B. $139,511
The last month's interest on a 12 percent amortized loan was $923.18. What was the balance due?
A. $1,178.16
B. $7,693.00
C. $92,318.00
D. $110,781.00
C. $92,318.00
In preparing a comparative market analysis the agent noted that the comparable had RV parking while the subject property had no room for an RV. The agent would show this by
a. A reduction from the price of the comparable.
b. an addition to the price of the comparable
c. a reduction from both the comparable and subject property
d. the exclusion of the comparable.
a. A reduction from the price of the comparable.
A fire insurance policy bas a one-year premium of $430.70. What would be the daily proration of the policy?
A. $1.14
B. $1.18
C. $1.20
D. $1.26
B. $1.18
A property that offers a 7.5 percent return on the listing price has a monthly net of $810. The property is listed at
A. $9,720.
B. $10,800.
C. $129,600.
D. $138,400.
C. $129,600.
On a buyer's closing statement, the buyer is debited for
a. loans being assumed
b. a down payment given to the agent
c. a new loan being given to the seller
d. the sales price
d. the sales price
An apartment has an annual gross income of $64,000. The net income is 30 percent of the gross. An investor who wants an 11 percent return on the purchase price would pay no more than
A. $174,545.
B. $192,000.
C. $581,818.
D. $831,168
A. $174,545.
A 120' x 80' rectangular warehouse with a 15- foot-high ceiling is listed for sale at $55 per cubic yard. What is the list price per square foot?
A. $20.37
B. $27
C. $30.55
D. $53.33
C. $30.55
A man took out a $30,000, 15 year home equity at 9% interest with monthly payments of $304.28. How much of his second payment would apply to interest?
a. 224
b.228
c.247
d. 293
a. 224
J purchased six acres of land for $1,800 per acre and divided them into 14 Jots, which J sold for $1,150 each. J's return on the purchase price is what percent?
A. 18%
B. 21%
C. 25%
D. 49%
D. 49%
What are the taxes for a home if it is taxed at 120 percent of its appraised value of $382,000 and the tax rate is 0.0216 mills per dollar of evaluation?
A. $4,584
B. $8,251
C. $8.404
D. $9,901
D. $9,901
A business had sales of $1,500,000.The business had a markup of 90 percent of cost. What was the cost of merchandise sold?
A. $789,474
B. $812,622
C. $971,600
D. $1,120,333
A. $789,474
A listing office gives 50 percent of the gross commission to the selling office and splits the remainder, 40 percent to the broker and 60 percent to the listing salesperson. Salesperson J's listing was sold by another office for $189,500. Assuming a 6 percent commission, salesperson J's share would be
A. $11,370.
B. $5,685.
C. $3,411.
D. $2,842.
C. $3,411.
In order to earn $1,000 per month on a $200,000 investment, the investment would have to yield a return of
A. 4 1/2%.
B. 5%.
C. 6%.
D. 10%.
C. 6%.
Net operating income is
a. scheduled rent minus vacancy factor
b. cash flow minus taxes and debt service
c. scheduled gross minus vacancy, collection and operating costs
d. the gross divided by the capitalization rate.
c. scheduled gross minus vacancy, collection and operating costs
I= PRT would be used regarding
A. loans.
B. trust accounts.
C. discount points.
D. construction advances.
C. discount points.
A 2" x 8" board that is 9 feet long contains
A. 8 board feet.
B. 9 board feet.
C. 12 board feet.
D. 15 board feet.
C. 12 board feet.
A triangular lot has 1,000 feet on one side of a 90° angle and 400 feet on the other side of the angle. How large is the property?
A. 1/2 acre
B. 400,000 square feet
C. 200,000 square feet
D. 14.3 acres
C. 200,000 square feet
if one pound of wire is the length of 4 rods, how many pounds of wire would it take to run a triple strand wire fence around a section?
A. 640
B. 960
C. 0.2620
D. 3,840
B. 960
The first quarterly interest payment on a
$55,000 loan at 6 percent interest would be
A. $550.
B. $600.
C. $660.
D. $825.
D. $825.
The sales price of a home was $250,000. The seller paid a 6 percent prepayment penalty on an existing $180,000 loan, total closing costs of $3,850, and a 6 percent commission. How much did the seller receive?
A. $220,350
B. $70,000
C. $40,350
D. $38,600
C. $40,350
A listing provided for a 6 percent commission. The contract of sale provided that in the event of buyer default, after expenses one-half of the forfeited deposit would go to the broker and one-half to the owner. After making a $30,000 deposit on an $800,000 purchase, the buyer defaults. Escrow expenses were $1,450. The broker would receive
A. $15,725.
B. $15,000.
C. $14,275.
D. $13,550.
C. $14,275.
A wooden beam 12 inches by 20 inches by 24 feet in length contains how many board feet?
A. 240
B. 360
C. 480
D. 640
C. 480
A property worth $1,000,000 is assessed at 25 percent of its value. The tax rate is 2 percent of the assessed value. Taxes would be
A. $20,000.
B. $10,000.
C. $5,000.
D. $2,500.
C. $5,000.
Last month the interest on a 6 percent amortized loan was $194.61. What was the loan balance?
A. $36,874
B. $37,614
C. $38,922
D. $39,141
C. $38,922
L wishes to come out even on a home he purchased for $372,000.If he will pay a 6 percent commission and closing costs of $4,200, what must L sell the home for to meet his objective?
A. $400,000
B. $400,213
C. $401,500
D. $398,500
B. $400,213
Interest paid on a $280,000 loan at 5Yz percent interest was $3,850. What was the period of the loan?
A. 6 months
B. 5 months
C. 4 months
D. 3 months
D. 3 months
M paid an annual pest control bill of $386 for one year starting September 1. On December 10, M sold the property to N who agreed to prorate the cost with N responsible for the date of closing. Assuming prorating on a 365-day year, how would this be shown on a closing statement?
A. Credit seller $206.81
B. Credit buyer $206.81
C. Debit seller $279.19
D. Debit buyer $279.19
D. Debit buyer $279.19
What is the interest for one month on a $300,000 loan at 6 3/8 percent interest?
A. $19,125
B. $3,811.17
C. $1,426.21
D. $1,593.75
D. $1,593.75
J sold a house for cash and received $148,752 from escrow. J's only expense was a 5 per cent commission and $1,648 in closing costs. What was the selling price?
A. $150,750
B. $153,816
C. $160,000
D. $161,200
C. $160,000
Which parcel of land is larger?
A. 10% of a township
B. Two sections
C. A parcel 5,280 feet x 10,560 feet
D. The NW 1/4 of SE 1/4 of SW 1/4 of NW 1/4
A. 10% of a township
A property valued for taxes at $200,000 had a tax of $4,000. The tax rate per dollar was
A. 2 mills.
B. 2.5 mills.
C. 20 mills.
D. 200 mills.
C. 20 mills.
A $100,000 loan can be amortized with monthly payments of $844 over 15 years or $717 on a 20-year basis. The 20-year loan would result in total payments of what percent of the 15-year total payments?
A. 85%
B. 113%
C. 118%
D. 124.6%
B. 113%
L gets $1,100 each month from an investment at 10 percent interest. L invested
A. $11,000.
B. $110,000.
C. $132,000.
D. $142,000.
C. $132,000.
A purchaser was required to give a lender a deposit equal to three months' taxes and insurance. If the tax rate was 15 mills per dollar of assessed value and the property was assessed at $280,000 and insurance cost for one year was $540, what was the amount of the deposit?
A. $1,026
B. $1,185
C. $2,370
D. $4,740
B. $1,185
The maximum capital gains tax, including surcharge, for a couple earning $700,000 per year would be
a. 15%
b. 23.8%
c. 37%
d. 42%
b. 23.8%
Which of the following transactions will result in the greatest net to the seller?
Sales Price Commission Closing Costs
A. $365,000 6% $3,855
B. $370,000 7% $4,420
C. $362,500 4% $2,480
D. $359,000 4% $0
C. $362,500 4% $2,480
Boot when used in taxation refers to
a. a cash down payment
b. a delayed exchange
c. personal property given to even up a rare
d. property that has banefully depreciated
c. personal property given to even up a rare
In delayed exchange, after closing the axing, property must be designated
a. immediately
b. within 30 days
c. within 45 days
d. within 180 days
c. within 45 days
equity refers to
a. honest
b. the difference between value and encumbrances
c. cash flow after all expenses
d. capitaliation rate
b. the difference between value and encumbrances
If 1 point is equal to 1/8% in loan interest and a borrower wants to lower the interest from 4.5% to 4% on a $400,00 loan. How much must the borrower pay in points
a. 4000
b. 8000
c. 16000
d. 20000
c. 16000
To determine the return on an investment you would
a. divide the net by the investment
b. divide the investment b the net
c. deduct the net from the investment
d. capitalize the net
a. divide the net by the investment
YOU MIGHT ALSO LIKE...
National Questions - 10 - Real Estate Calculations…
28 terms
Real Estate math
507 terms
Real Estate: Calculations
335 terms
RE PExam Calculations
337 terms
OTHER SETS BY THIS CREATOR
exercise 4 quiz
19 terms
Chem 226
47 terms
Neuroscience potential essay
12 terms
Lab Exercise 3
41 terms