MATH COMPILATIONS Flashcards
Ms. Torre is an accredited broker with Foursquare Development Corp. enjoying a commission of 5%. He sold a house and lot in Antipolo City for P10,000,000.00 with 30% full downpayment. A full downpayment entitles the buyer with 10% discount on the actual amount paid. The buyer requested that his discount be applied to the downpayment. The balance is payable in 5 years, in-house financing at 12% interest. Compute for the net downpayment to be paid by the buyer.
a. 2,650,000
b. 2,015,000
c. 3,000,000
d. 2,700,000
d. 2,700,000
Selling Price = 10,000,000
Downpayment 30% = 3,000,000
(10,000,000 x 30%)
10% Discount applied to Downpayment
Solution:
Downpayment = 3,000,000
Less:10% Discount
(3,000,000). = 300,000
Downpayment to be paid by the buyer = 2,700,000
A perimeter wall will be constructed on a 240 sqm. regular lot with a frontage of 12 meters. The wall is 1 meter below and 3 meters above ground. If the cost of the wall construction is P400.00 / sqm., how much would be the total cost of the wall excluding a 3-meter wide gate?
a. 125,225
b. 105,300
c. 97,600
d. 88,350
c. 97,600
Area = 240sqm
Area = Length x Width
240sqm = 12 x width
240/12 = width
20m = with
Perimeter = sum of all sides
P=12 +12 +20 +20 = 64cm
Wall height = 3m +1m = 4m
Length = 64m-3m (gate) = 61m effective length
Area Wall = 61m x 4m =244 sqm
Cost =244sqm x400/sqm = 97,600
Mr. Ahente obtained a net listing of 6,500,000.00 for a residential condominium unit. He sold the property at a price which is inclusive of his 5% professional fee, capital gains tax and documentary stamp tax. The Deed of Sale provides that the buyer will shoulder the transfer tax and registration fees. At how much was the property sold?
a. 8,350,188.30
b. 7,880,555.88
c. 7,428,571.42
d. 7,275,050.50
Selling Price (Find) 7,428,571.42 100%
Cost: 5% Professional Fee
6% Capital Gain Tax. 928,571.43 12.5%
1.5% Docs Stamp
Net Selling Price (Given) 6,500,000.00 87.5%
(6,500,000/87.5% = 7,428,571.42)
If you are applying for a Pag-Ibig housing loan of P800,000.00, what should be your minimum gross monthly income if the monthly amortization is P6,500.00 ?
a. 18,571.42
b. 17,234.78
c. 19,111,93
d. 20,298.77
a. 18,571.42
Solution:
Pag-Ibig Loan = 800k
Monthly Amort = 6,500
Min. Gross Monthly Income = X
6,500 = 35% of X
6,500/35% = X
X = 18,571.42
Mr. Lopez pays a monthly amortization of 54,100 for a parcel of land. The amortization factor for 5 years at 21% interest is 0.02705. If Mr. Lopez paid a downpayment of 20% of the contract price, what is the principal loan amount on which the monthly amortization is based, the contract price and the amount of downpayment?
a. 2,200,000 / 2,700,000 / 300,000
b. 3,000,000 / 3,500,000 / 800,000
c. 2,000,000 / 2,500,000 / 500,000
d. 2,500,000 / 3,500,000 / 500,000
Answer: c. 2,000,000 / 2,500,000 / 500,000
Solution:
Amort = 54,100
Term = 5yrs
Interest = 21%
Amort Factor = 0.02705 DP = 20% of CP
Loan Amount = ??? Contract Price = ??? DP = ???
X = YF
FV = RV (F4)
F1 = 1+r^n
F1 = (1+0.21)^5 = 2.59
F2 = F1 – 1
r
F2 = (2.59 – 1) = 7.59
0.21
PV = 54,100 x 12mos (F2/F1) PV = 649,200 (7.59/2.59)
PV = 649,200 (2.93)
PV = 1,902,156 ≈ 2,000,000
2,000,000 = 80% CP
CP = 2,000,000 / 8
CP = 2,500,000
DP = 2,500,000 x 20%
DP = 500,000
An investor bought an apartment property for 45 Million. The property earns a monthly rental income of 300,000 and its annual fixed and operating expenses total 400,000. What is his rate of return on investment?
a. 10.00 %
b. 8.50 %
c. 6.85 %
d. 7.11 %
d. 7.11 %
Formula:
ROI = Profit_______
Cost of Investment
Given: Cost of Investment. = P45M
Rental Income. = P3,600,000
(300,000/mos x 12mos =P3,600,000)
Operating Expenses = P400,000
Solution
ROI = 3,600,000 – 400,000
45,000,000
= .0711 or 7.11%
A house and lot was sold for 6,500,000 with a lot area of 1,000 sqm. The fair market value of the improvement is 2,000,000 and lot is 2,500,000. The zonal value of the lot is 5,000/sqm. The sale is subject to capital gains tax. What should be the tax base in computing for the capital gains tax and documentary stamp tax?
a. 8,500,000
b. 7,000,000
c. 6,500,000
d. 5,000,000
b. 7,000,000
Selling Price (House and Lot) - P6,500,000
Fair Market Value of House - P2,000,000
Zonal Value of Lot 5,000/sqm
1,000 sqm x 5,000 Zonal Value = P5,000,000 P7,000,000
Subject for Capital Gain Tax (6%) whichever is higher P7,000,000
A 3-hectare land was sold for 300.00/sqm. and the seller agreed to pay a commission on the following graduated rates: 5% for the first 1,000,000; 4% for the next 1,500,000 and 3% on the excess over 2,500,000. If you are the selling broker and you agree with the listing broker on a 60-40 commission sharing in your favor, how much would be your share of the gross commission?
a. 205,000
b. 195,000
c. 183,000
d. 165,000
c. 183,000
Given:
Selling Price (30,000 x 300 = 9,000,000
Solution:
1,000,000 x 5% = 50,000
1,500,000 x 4% =. 60,000
6,500,000 x 3% = 195,000
Total 305,000
60% = 183,000
40% = 122,000
