243,671.43 2. 266,671.43 3. 312,512.64 4.

Real Estate Math Problems Flashcards What did the sellers pay for their home if they sold it for $298,672 which gave them a 12% (+100%) profit over their original cost? Round your answer to the nearest cent.1.

$243,671.43 2. $266,671.43 3. $312,512.64 4.

$334,512.64

2. $266,671.43P÷T×R 298,672÷T×1.12= 266,671.43

What is the interest rate on a $10,000 loan that requires a semiannual interest payment of $450450x2=9001. 7% 2.

9% 3. 11% 4. 13.5%

2. 9%P÷T×R900÷10000=.09 (9%)

A tract of land measures 1.25 acres the lot is 150ft deep how much will the lot sell for at $65 per front ft(43560 sq ft in an acre)1.$9,750 2. $8,125 3. $23,595 4. $25,420

• $23,5951.25 acres × 43560 = 54,450 sq ft54,450÷150 =

363 frontage363 × 65 =23,595 Two brokers split the 6% commission on the sale of a $324,000 home. The selling broker's sales associate was paid 70% of the selling brokers share. The listing brokers sales associate was paid 30% of the listing brokers share.How much did the listing brokers sales associate receive1.

$2,916 2. $6,804 3. $19,440 4. $20,275

1.$2916P÷T×RP÷324000×6%(.06)=9720P÷9720×3%(.03)

=2916 A buyer is granted a 90% loan for $340,500 how much will the monthly principal and interest payment be using a loan payment fact of $7.16 per $1,000 of loan1. $2,194.18 2.

$4,755.59 3. $2,437.98 4. $3,064.50

3. $2,437.98340,500÷1,000= 340.5340.5×7.16=2,437.98

The buyer is purchasing a fourplex and closing on Nov 3 each apt rents for $875 per month as of Nov 1 one apt is vacant and the other tenants have paid their Nov rent compute the rent proration through the day of closing1.

$345.00 2. $1,993.33 3. $2,275.00 4. $3,935.72

• $2,275.00Days 30 Nov - 4 = 26 days875 x 3 apts = 2625

÷ 30 = 87.50 per day87.50 x 26 = 2,275 rent proration A 50ft x 100ft lot has a 2,400 sq ft house on it that contains four bedrooms and three bathrooms what percentage of the lot is not taken up by the house1. 21% 2. 48% 3. 50%

4. 52%

• 52%50 x 100 = 5,000 sq ft5,000 - 2,400 = 2,600 sq ft not

taken up by houseP÷T×R2,600÷5,000×R = .52 (52%) The buyer has agreed to a $175,000 sales price 2.5 loan discount poinst and a 1% loan origination fee if the buyer receives a 90% loan to value how much will the buyer owe at closing for points and the origination fee1. $1,575.00 2.

$3,937.50 3. $5,512.50 4. $6,125.00

3.

$5,512.50P÷T×RP÷175000×90%(.9)=157500P÷157500×.0

35(2.5%+1%)= 5512.50

The seller received a $121,600 check at closing after paying a 7% brokerage commission, $31,000 in other closing costs and a $135,700 loan payoff what was the total sales price1. $288,300 2. $306,300 3. $308,500 4.

$310,000

• $310,000Rate: 100% - 7% = 93%Part: 121,600 + 31,000
• 135,700 = 288,300288,300 ÷ Total × .93 (93%) = 310000

If you purchase a lot that is 125ft x 150ft for $6,468.75 what price did you pay per front foot1. $23.52 2. $43.13 3.

$$51.75 4. $64.69

3. $51.756,468.75 ÷ 125 = 51.75

An owner agrees to list his property on the condition that he will receive at least $47,300 after paying a 5% broker's commission and paying $1,150 in closing costs at what price must it sell 1. $48,450 2. $50,815 3. $50,875 4.

$51,000

P÷T×R P (47300+1150=48450) R(100%-5%=95% .95)

48450÷T×.95=510004. $51,000

Find the number of sq ft in a lot with a frontage of 75ft 6in(75.5) and a depth of 140ft 9in(140.75)1. 10,626.625 2.

10,652.04 3. 216.25 4. 25,510.875

1. 10,626.62575.5×140.75=10,626.625

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

1. $1,250125,000÷100 = 1,250

Calculate eight month's interest on a $5,000 interest only loan at 9.5% (loan amt x interest)1. $475.00 2. $316.66 3.

$237.50 4. $39.58

2. $316.665000×95%

(.095)=475÷12=475÷12=39.58333×8=316.66

If a 6.5% full brokerage commission was $5,200 what was the sales price of the house1. $ 80,400 2. $80,000 3. $

77,200 4. $86,600

2. $80,00P÷T×R5,200÷T×6.5% (.065)= 80,000

The annual tax bill on a home was $1,282 and was paid in Dec the home sold the following Mar and will close on Apr 23 how much will the tax proration be using a calendar yer and prorating to the day of closing (Jan 31 + Feb 28+ Mar 31+ Apr 22 = 112)1. $393,34 2. $402.41 3. $396.89 4.

$427,33

• $393.341282÷365(yr) = 351×112=393.38

If a buyer borrows $4,400 agreeing to pay back principal and interest in 18 mths what annual interest rate is the buyer paying if the total payback is $5,5881. 15% 2. 18% 3.

21.3% 4. 27%

• 18%5,588 payback (principal + interest) - 4,400 loan

(principal) = 1,1881,188 ÷ 18 mths = 66 monthly interest66 x 12 mths = 792 annual interestP÷T×R792÷4,400 × R =

0.18 (18%)

The sale of a home is to close on Sept 28 included in the sale is a garage apt that is rented for $350 per month the tenant has paid the Sept rent what is the proration using actual days & prorating thru the day of closing1. $325.67 2.

$23.33 3. $350.00 4. $175.00

$23.33350÷30 = 11.666×2 days = 23.33 A fence is being built to enclose a lot 125ft x 350ft if there will be one 10ft gate how many running ft of fence will be needed 1. 465 2. 600 3. 940 4. 960

• 940125 + 350 + 125 + 350 - 10 = 940 running ft

A teacher earns an annual income of $60,000 and the teacher's spouse earns $2,400 per month how much can the couple pay monthly for their mortgage payment if the lender uses a 28% qualifying ratio1. $2,072 2. $1,400 3.

$2,352 4. $672

2400 x 12 = 28,00028,000 + 60,000 = 88,00088,000 ÷ 12 = 7400 per month incomeP÷T×RP ÷ 7400 x .28 (28%) = 2,072 A sales associate sells a property for $258,500 the sales associate's employment agreement provides for a 60%

share of the employing broker's commission the commission due the selling broker is 2.5% what is the selling sales associate's share of the commission1.

$2,106.00 2. $3,877.50 3. $6,462.50 4. $10,340.00

• $3,877.50P÷T×RP÷258500x.025 =

64625P÷64625×60%(.6)= 3877.50

Taxes on a home for the current tax year amount to $6,468 the home was sold in July and the sale closed on Aug 29 the seller had not paid any of the tax owed for the current year prior to the closing what was the prorated tax amount using a calendar yer if the proration was calculated to the day of closing1. $4,252.93 2. $4,607.34 3. $5,280.50 4.

$6,468.00

1.$4,252.93Jan31+Feb28+Mar31+Apr30+May31+Jun30+Jul 31+Aug 28=240days6468÷365=$17.72055 per day$17.72055 x 240 = 4,252.93 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 money1.

$3,500 2. $4,000 3. $4,350 4. $8,850

3. $4,350P÷T×R 8,850÷88,500×90%-10% = $4,350

A tenant's monthly rent $825 what is the rent as a percentage of an annual income of $41,0001. 18% 2. 24%

3. 33% 4. 40%

2.. 24%P÷T×RP (825x12=9900) 9900÷41000 x R = 24% Monthly interest on a loan with a 9.25% annual interest rate is $65.53 what is the loan amount (65.53 x 12 = 786.36)1.

$1,400 2. $2,800 3. $6,300 4. $8,500

4. $8,500P÷T×R786.36÷T ×9.25% (.0925) = 8501

A lot has a frontage of 100ft and a depth of 150ft if the building line regulations call for a set back of 25ft at the front 10 ft at the back and 6ft on each side how many square ft of usable space are left for the bldg1. 9,350 2.

10,120 3. 11,750 4. 15,000

• 10,120Front & back setbacks are 25+10=35ft150depth -

35 setback = 115 ftSide setback are 6 + 6=12ft100ft frontage - 12 ft = 88 ft115×88= 10,120