Additional Math Questions Flashcards
An owner of a house wants to carpet 2 rooms. Each room measures 15’ x 18’. The cost of the carpeting is $21 per square yard. How much did the carpeting cost?
$1,260
15’ x 18’ = 270 square feet times 2 rooms equals 540 square feet. In a square yard there are 9 square feet (3’ x 3’ = 9 sq ft)
540 sq ft / 9 = 60 square yards times $21 = $1,260 cost of carpeting.
An owner divided an acre of land into 6 equal parcels. Each parcel is 50’ wide, how deep is each lot?
145.20’
One acre contains 43,560 square feet
43,560 / 6 equal lots. Each lot now contains 7,260 square feet. 7,260 / 50’ wide equals 145.2 depth of each lot.
A property has a market value of $380,000. It is being assess at 20%. The equalization factor is 1.4 and the taxes are $4 for every $100. What are the property taxes?
$4,256
A property has a market value of $450,000. The property is assessed at 25% the equalization factor is 1.5. What are the monthly taxes if the tax rate is 28 mills?
$393.75
A parcel of land is described as the north ½ of the SE ¼ of the NE ¼ of the SW ¼ of section 23 contains how many acres?
5 acres
Section 23 = 640 acres
North ½ = 320 acres
SE ¼ = 80 acres
NE ¼ = 20 acres
SW ¼ = 5 acres
A parcel of land is described as the NW ¼ of the NE ¼ and the SW ¼ of section 7, sold for $16,500 per acre. The commission was 7%. How much did the sponsoring broker earn?
$231,000
A property sold for $450,000, the commission was 6%. The listing agent will receive 45% of the total commission. The balance will be split 50/50 between the sponsoring broker and the agent who made the sale. How much did the listing agent earn?
$12,150
A property sold for $240,000. The downpayment was 25%. If the buyer and seller agreed to split the discount points of 3 points. How much did the buyer pay in points?
$2,700
A buyer purchased a property for $360,000 with a down payment of 20%. The lender charged 3 points and 2 loan origination fees. How much did the buyer pay in points?
$8,640
A parcel of land measures 2 miles by 6 miles. How many acres does this parcel contain?
7,680 acres
2 miles x 6 miles = 12 square miles
12 square miles x 640 acres = 7,680 acres
An owner of a property wants to net $300,000 from the sale of her property, after paying a 7% commission. What does the property need to sell for?
$322,580
100% – 7% = 93%
OWNER’S NET $300,000 / 93% = $322,580
An owner of a house wants to net $350,000 on the sale of her property, after paying a 6% commission and paying closing cost of $2,350. What does the house need to sell for in order for the seller to net $350,000?
$374,840
The rental price of a commercial space is $1,800 per month plus 3% of the gross sales over $480,000 per year. Gross sales were $550,000 for the year. What was the average monthly rent?
$1,975
A property closed on March 20, 2018. The property taxes are $5,400 per year. The taxes were paid from January 1, 2017 to December 31, 2017. How much does the seller owe the buyer for property taxes?
$1,200
A tenant has a month to month tenancy. The rent is $1,350 per month. On May 1st, the landlord went to pick up the rent for the month of May. The tenant said that they are moving and will be out of the apartment by May 22nd, the landlord told the tenant that they only have to pay for the days that the tenant occupies the apartment. How much rent did the landlord collect?
$990
