Math/land

Question 1

Rectangular survey system divides a township into 36 squares called…

Answer 1

Sections

Question 2

The area enclosed by the intersection of 2 consecutive meridians and 2 consecutive parallels

Answer 2

Township

36 sections per township

Question 3

Converting section fractions to acres

The size in acres of a subsection of a township is a fraction of 640 acres, since there are 640 acres in a section

Answer 3

1. Multiply the demoninators of the fractional descriptions together
2. Divide 640 by the resulting number

SE 1/4 of section 8: 640/4=160 acres
W 1/2 of the NW 1/4 of section 8: 640/(2x4)=80 ac
E 1/2 of the NE 1/4 of the NE 1/4 of sec 8:
640/(2x4x4)= 20 acres

Question 4

North-South lines six miles apart

Answer 4

Meridians

Question 5

East-west lines six miles apart

Answer 5

Parallels

Question 6

North-south strips between meridians

Answer 6

Ranges

Question 7

NOI/price=

Net operating income

Answer 7

ROI

Question 8

Sales price = MRI X GRM

MRI=sales price/GRM

Answer 8

Gross rent multiplier

Question 9

Total special assessment cost X homeowners share =

Answer 9

Special Assessement

Question 10

Beginning depreciation basis/depreciation terms (years)=

Answer 10

Annual Depreciation

Question 11

Interest only loan

Answer 11

Total interest = Loan amount x Rate x Term in years

Question 12

Amoritized loan

Answer 12

Total interest = (Monthly PI payment x 12 x term) - Loan amount