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08 Sales Comparison and Income Approaches > Quiz Ch 11-12 > Flashcards

Quiz Ch 11-12 Flashcards

1
Q

“Conversion of benefits received in the future (e.g., periodic incomes, cash flows, reversion) to present value” is the definition of

A

Discounting

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2
Q

“The continuous and systematic additions to a principal sum over a series of successive time periods so that previously earned interest earns interest” is the definition of

A

Compound interest

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3
Q

A lot is 445.24 feet by 118.39 feet. How many acres is that?

A

1.21. 445.24 X 118.39 = 52,711.96 ÷ 43,560 = 1.21 acres.

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4
Q

A mortgage capitalization rate is also called ax and is what column?

A

Mortgage constant (RM)

Column 6

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5
Q

A property was listed on June 14, 2011 and sold on February 14, 2012. How many days was it on the market?

A
  1. 245 Solution 6.142011 ENTER 2.142012 g Delta DYS
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6
Q

A property was listed on June 18, 2011 and sold on January 14, 2012. How many days was it on the market?

A
  1. Using an HP 12C: 6.182011 ENTER 1.142012 g DeltaDYS Answer is 210
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7
Q

An owner sells her house for $269,500. The sales commission is 5% and she agrees to pay 1.5% towards the buyer’s closing costs. How much does she receive?

A

251982.5. $269,500 X .05 = $13,475. $269,500 X .015 = $4,042.50. $269,500 - $13,475 - $4,042.50 = $251,982.50.

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8
Q

An owner sells his house for $395,500. The sales commission is 5.75%. What is the net amount received by the owner?

A

372758.75. $395,500 X .0575 = $22,741.25. $395,500 - $22,741.25 = $372,758.75

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9
Q

Compounding and discounting are ___________.

A

Opposites

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10
Q

Compounding is used to solve for ___________ values, whereas discounting solves for ___________ values.

A

Future
(Savings Account, College Fund, Roof Replacement)

Present
(Bond, Mortgage, Installment of Mortgage)

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11
Q

How much is [(114.8 – 66.2) + (47 + 13.8)] X (12 + 46.5 – 2.8)?

A

6093.58. Solve the operations inside the oval brackets first, then work your way out to the square brackets: [(114.8 - 66.2) + (47 + 13.8)] X (12 + 46.5 - 2.8) becomes [(48.60) + (60.80) ] X (55.70) = (109.40) X (55.70) = 6,093.58.

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12
Q

How much is [(23.5 + 73 – 5) + (72 x 2.5)] ÷ 16.9?

A

16.07

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13
Q

How much is [(25.5 + 77 – 12) + (83 x 2.6)] ÷ 19.3?

A

15.87. 15.87. Solution 25.5 ENTER 77 + 12 - 83 ENTER 2.6 X + 19.3 ÷

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14
Q

How much is [(782 – 414.5 + 23) + (25 x 3.9)] ÷ 36.4?

A

13.41

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15
Q

In the Six Functions of a Dollar table, column ___ is also called the annuity column.

A

2

… regular payments of predictable amounts…

college fund

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16
Q

In the Six Functions of a Dollar table, column ___ is also called the discount factor column.

A

4

17
Q

In the Six Functions of a Dollar table, column ___ is the sinking fund factor column.

A

3

18
Q

In the Six Functions of a Dollar table, which columns solve for future values?

A

1, 2, 3

19
Q

In the Six Functions of a Dollar table, which columns solve for present values?

A

4, 5, 6

(bond pays $50K in 5 years, Mortgage, Mortgage installments)

20
Q

In your office, for the first quarter, Sam appraised 45 houses, Sue appraised 52 and you appraised 41. What percent did you appraise?

A

30%. “With your 12C, enter: 45 ENTER 52 + 41+ 41%T = .30 or 30% “

21
Q

The “shift” keys on the HP 12C are _____________ colored.

A

Blue and gold

22
Q

The HP 12C calculator includes the following functions:

A

Financial, statistical and programming

23
Q

The HP 12C has ______ storage registers.

A

20

24
Q

The HP 12C works to an internal accuracy of ____ decimal places.

A

12

25
Q

You are renting rooms for $425 per month, but the weekly rate is $175 and the daily rate is $30. What is the amount for a stay of 8 months, 2 weeks, and 5 days?

A
  1. $3,900. Solution GOLD CLR REG 425 STO 1 175 STO 2 30 STO 3 RCL 1 8 X RCL 2 2 X + RCL 3 5 X +
26
Q

You are renting rooms for $450 per month, but the weekly rate is $150 and the daily rate is $25. What is the amount for a stay of 6 months, 2 weeks, and 3 days?

A
  1. 6 X $450 + 2 X $150 + 3 X $25 = $3,075
27
Q

You bought a house for $285,000 and sold it for $248,500, minus a 5% commission. What percent did you lose?

A

0.172

28
Q

You buy a new SUV for $38,750. You get a 10% rebate but pay 6% state sales tax and 1.5% county sales tax. What is the net amount you have to pay?

A

37490.63. With your 12C enter: 38,750 ENTER 10% - 7.5% + Answer is $37,490.73

29
Q

You buy a new SUV for $41,550. You get a 10% rebate applied to the purchase price but pay 5% state sales tax and 1.25% county sales tax. What is the net amount you have to pay?

A

39732.19. $39,732.19. Solution 41550 ENTER 10 % - 6.25 % +

30
Q

You started with $1,845.55 in your bank account. You made the following withdrawals: $432.50, $1,245.00, and $1,550.00. You made the following deposits: $1,500.00, $450.00, $19.35, and $552.90. What is your current bank balance?

A

1140.3. Using your 12C, enter: 1,845.55 ENTER 432.5 - 1,245 - 1,550 - 1,500 + 450 + 19.35 + 552.9 + Answer is $1,140.30

31
Q

You started with $9,267.55 in your bank account. You made the following withdrawals: $187.44, $1,520.00, and $3,650.75. You made the following deposits: $1,500.00, $650.00, and $128.75. What is your current bank balance?

A

6188.11. $6,188.11. Solution 9267.55 ENTER 187.44 - 1520 - 3650.75 - 1500 + 650+ 128.75 +

32
Q

You take a 240 day note on September 14, 2012. When will it be due?

A

41406

33
Q

Your apartment building has 18 units rented at $950 per month, 26 units rented at $1,100 and 8 units rented at $1,250 per month. How much is the total annual rent?

A
  1. Using your 12 C, enter: 18 ENTER 950 X 26 ENTER 1,100 X + 8 ENTER 1,250 X + 12 X Answer is $668,400.
34
Q

Your stock went from $222 to $118.75 in 3 years. What is the average change per year?

A

Minus 15.5%. Using your 12C, enter: 222 ENTER 118.75 Delta% 3 ÷ Answer is -15.50%

35
Q

Your stock went from $95 to $148.25 in 5 years. What is the average change per year?

A

11.21%. 11.21% Solution 95 ENTER 148.25 Delta % 5 ÷

08 Sales Comparison and Income Approaches (23 decks)

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