Math Flashcards
how many decimal places should you round off to generally
2
How many decimal places should you round to with interest rates?
3
square area
length x width = area
rectangle area
length x width = area
1 square yard = ? sq. ft.
9
How many sq. ft. in an acre?
43560
triangle area
BxH/2
Trapezoid area
[(A+B)/2] X Height
Volume of a Square or Rectange
LxWxH
How many cubic feet in a cubic yard?
27
What are rates expressed as?
percentages
Real estate whole values
sales price, purchase price, value, assessed value, and value, original investmnet, principal amount, annual depreciation
Real Estate Rates
rate, tax rate, years of useful life
Real Estate “Parts”
replacement cost, commission, interest, loss, depreciation, income, profit, taxes
1 linear foot
12 inches
3 linear feet
1 yard
9 sq. ft
1 sq. yd
144 sq. inches
1 sq ft
27 cubic ft
1 cubic yard
1 acre
43560 sq feet
1 township
36 section
36 sections
36 sq miles
1 square miles
640 acres
1 section
1 square mile
1/2 mile squared
160 acres
1 linear mile
5280 ft
1 mill
1/1000
What does net mean?
what is left after expenses have been deducted
seller’s rate
100% - broker’s rate
In net to seller problem, how do you find sales price?
using seller’s rate
what are most real estate loans based on?
simple interest
simple interest
interest is paid based on the unpaid balance
term mortgage
loan balance never changes; paying interest with each payment
net income
gross income - expenses - vacancy factor
Is debt service an operating expense?
no
What time frame are capitalization problems in?
annual
ANOI
Annual Net Operating Income
in Profit or Loss problems, what is the whole?
original price or original acquisition price
Average Appreciation Formula
Original Price x (1+(appreciation % * t))
What is the standard downpayment?
20% on a non-insured conventional loan
What are discount points based on?
loan amount
What are origination fees based on?
loan amount
1 point is what % of a loan?
1%
WHat is the major purpose of points?
To increase the lender’s yield
What are discount points?
prepaid interest
Annual Tax Bill
units of tax ($ amount in the tax rate)
Units of tax
assessed value / per figure
assessed value
appraised value (assessment rate)
What does amortization refer to
liquidation
liquidation
reducing the loan amount wiht each payment
In an amortized loan, each payment is made up of what 2 parts?
- interest
2. principal reduction
Steps to amortize loan
- loan amount x interest rate = annual interest
- annual interest / 12 = monthly interest
- principal & interest payment - monthly interest = principal reduction
- loan amount - principal reduction = new loan amount
- start over using new loan balance for next month
Annual interest for amortization
loan amount x interest rate
Monthly interest
annual interest / 12
Principal Reduction
principal & monthly payment - monthly interest
New Loan Amount
loan amount - principal reduction
proration
when a number of days of some items (taxes, insurance, rent, etc.) is debited to the buyer or seller and credited to the buyer or seller
How many days are in a prorated year?
360
How many days are in a month in a prorated year?
30
When are things paid in advance paid for the year?
January 1
When are things paid in arrears paid for the year?
December 30
How do you know the front footage of a lot?
number written first
