Math facts

Question 1

What does the term front foot refer to?

Answer 1

Frontage (street in front of property)

Question 2

What are the linear measurements?

Answer 2

36 inches= 1 yard
5,280= 1 mile
9 sqaure feet= 1 square yard (3x3)
43,560 sq. ft. = 1 acre

Question 3

How do you measure the square feet of the property?

Answer 3

Area= LxW

Question 4

How many square feet are in a room 15’6” x 30’9”?

Answer 4

Must convert inches to feet first:
6” % 12 = 0.5 + 15’ = 15.5 wide
9” % 12= 0.75 + 30’ = 30.75’ long
30.75’ x 15.5’= 476.625 square feet

Question 5

How many acres of land are there in a parcel of land that measures 450’ x 484’?

Answer 5

484’ x 450’ = 217,800 square feet % 43,560 = 5 acres of land

Question 6

How do you determine the area of a triangle?

Answer 6

1/2 (base x height) = area of a triangle
or (base x height) % 2 = area of triangle
ex. (400’ x 200’) % 2 = 40,000 square feet

Question 7

How do you solve for volume?

Answer 7

Volume is the space inside an object and measured in cubic units.
L x W x H
40 x 30 x 20 = 24,000 cubic feet

Question 8

How do you convert fractions to decimals?

Answer 8

By diving the numerator by the denominator
ex. 7/8 - 8/7= .875 11/8- 8/11 = 1.375

Question 9

How do you solve percentage problems?

Answer 9

Use this formula in word problems
Rate (uses division) Principal (price) ( use division) Earnings (multiply)

Question 10

Sonia is a real estate agent. She sold the home for $400,000. The commission rate was 0.6%, what was her earnings?

Answer 10

400,000 x 0.6 = $24,000

Question 11

Laura earns $15,000 in commission. The commission rate was 0.5%, what was the selling price?

Answer 11

0.5/15,000= $300,000

Question 12

Jade sells a property for $300,000 and earns $18,000. What was the commission rate?

Answer 12

300,000/18,000 = 0.6%

Question 13

The owner wants to net $100,000 after paying the broker a 6% commission. How much would he list it for?

Answer 13

100% - .06%= .94 .94/100,000 = 106,382

Question 14

Owner wants to receive $112,800 after paying the brokers commission of 6%. What would he list it for?

Answer 14

.94/112,800= $120,000

Question 15

Interest is always calculated on a ______ basis`

Answer 15

Annual
20,000 rate 8% 0.8 X 20,000= $1,660 interest

Question 16

A parcel of land sold for $335,200. The lender approved a 90% loan at 4.5% for 30 years. The appraised value on this parcel was $335,500. How much interest is paid to the lender in the first monthly payment?

Answer 16

$301,680 x 4.5% = $13,575.60 annual interest
$13,575.60 annual interest divided by 12 months= $1,131.30 monthly interest.