Math Calculations Flashcards
AREA
A. Area of rectangular or square area = length x width
B. Area of triangular-shaped area = ½ (base x height)
C. Dimensions of a square yard = 3 ft. x 3 ft.
D. There are 9 square feet in one square yard
E. If you have square feet, divide by 9 to get square yards
F. If you have square yards, multiply by 9 to get square feet
G. Cubic Feet = Length x Width x Height
H. Dimensions of a cubic yard = 3 ft. x 3 ft. x 3 ft.
I. There are 27 cubic feet in one cubic yard
J. If you have cubic feet, divide by 27 to get cubic yards
K. If you have cubic yards, multiply by 27 to get cubic feet
L. There are 640 acres in one SECTION of land (1 square mile)
M. There are 43,560 square feet in One acre of land
N. When speaking of “Front” footage it always the first dimension given
PROPERTY TAX
PART = RATE X TOTAL
Annual Taxes = Tax Rate / $100 X Appraised Value
The assessed value of a home is $320,000. If the market value is $300,000 and the tax rate is $.72 for city, $.48 for the county, and $1.75 for school taxes. What are the annual taxes?
Add all the taxes together. Use the assessed value X the tax rate / 100
Find how much income is needed to qualify for lender’s ratio
- 1st ratio percent given is the MAXIMUM monthly mortgage
- 2nd ratio percent is MAXIMUM monthly mortgage + long term debt
- Estimated monthly mortgage / Ratio 1
- Estimated monthly mortgage + long term debt / ratio 2
- **Take the higher of the 2 to get the answer
Find the balance after monthly principle and interest are given
Total amount X interest rate / 12 = monthly interest
monthly payment - monthly interest = difference between interest and payment
Total amount - difference between interest and payment = balance after 1st month
