Real estate math - Study guides, Class notes & Summaries

Real Estate Exam (Math Portion), Real Estate Math Practice Problems Question and answers already passed 2023/2024 A farmer is willing to pay $1,200 per acre. He is planning to buy the SE 1/4 of the SE 1/4 of the SE 1/4 of section 2. How much will he pay for the land? There are 640 acres in 1 section. $12,000 If the potential gross rental income from a property is $20,000, the vacancy rate is 5 percent, and the additional income from the laundry facilities and extra storage is $700, what i...

Colorado Real Estate Math Verified Answers A real estate agent is paid $200.00 a month salary and a 2 ½ % commission on everything sold over $150,000 in one year. If the agent makes $22,000 one year. How much did the agent sell? 784000 634000 934000 880000 ️934000 $200 X 12 = $2,400 (total salary); $22,000 - $2,400 = $19,600 (total commission sales) / .025 (commission rate) = $784,000 (sales above $150,000 that earned the $19,600 commission) + $150,000 = $934,000 (Total Sale...

Intangible taxes are charged against the amount new funds burrowed by the buyer (less any part of the seller's loan assumed by the buyer). Alex bought a condo for $110,750 and put $11,500 down. What would the intangible recording tax be? $110,750 - $11,500= $99,250 in new debt/ 500= $198.50 (round up to $199) x $1.50= $298.50 Dain and Sherly's home sold for $751,150. They owe $675,900 on their mortgage. What will their net be after they pay $24,500 in expenses and a 6.8% commission? C...

Real Estate Math Practice Test Questions And Correct Answers 2024 Update Graded A+

What was the price per front foot for a 100' x 125' lot that sold for $125,000. (the first number is front foot) 1. $1,250 2. $1,000 3. $556 4. $10 - correct answer 1. $1,250 125,000÷100 = 1,250 If the bank makes 90% loan on a house valued at $88,500 how much additional cash is required as a down payment if the buyer has already paid $4,500 in earnest money 1. $3,500 2. $4,000 3. $4,350 4. $8,850 - correct answer 3. $4,350 P÷T×R 8,850÷88,500×90%-10% = $4,350 What did the selle...

REAL ESTATE MATHEMATICS FINAL ACTUAL EXAM ALL QUESTIONS AND WELL ELABORATED ANSWERS TOP RATED VERSION FOR ALREADY A GRADED HIGHLY RECOMMENDED BY EXPERTS |NEW AND REVISED

Mississippi Real Estate License Law and National License Math Accurate 100%

Real Estate Math Question and answers already passed 2023/2024 $42891 43,000 x 7% = 3,010. 3,010 / 12 = 250.8333 interest for that month 287 - 250.8333 = 36.1667 principal that month 43,000 - 36.1667 = 42,963.83 new principal of loan after the first payment 42,963.834 x 7% = 3007.4683 3,007.4683 / 12 = 250.6224 287 / 250.6224 = 36.3776 principal second month 42,963.834 / 36.3776 = 42,927.453 new principal of loan after the second payment 42,927.453 x 7% = 3004..9217 / 12 = 250..4101 = 36.58...

Real Estate Math Exama. The fastest way to calculate one month's interest on a real estate loan with an interest rate of 7.2% interest per annum is to multiply the principal balance by: a. 0.0006 b. 0.6 c. 7.2% and divide by 12 d. 12 and divide by 7.2% c. A duplex with a fair market value of $20,000 and an outstanding loan balance of $12,000 was exchanged for a fourplex with a market value of $35,000 and an outstanding $18,000 loan balance. The owner of the duplex would pay in cash...