Real Estate Math Flashcards
1
Q
How many acres in a square mile?
A
640
2
Q
How many square feet in an acre?
A
43,560
3
Q
How many feet are in a mile?
A
5,280
4
Q
How much is a point in a loan?
A
1/8% or 0.125% discount in rate and it costs 1% of the loan
5
Q
What is the Operating Expense Ratio?
A
The percentage of gross income that is used to pay the annual operating expenses. The remainder is the annual net income.
6
Q
What are “Mills”?
A
A Mill is one tenth of one cent (.001) and is used sometimes in taxes, as a specified number of mills per assessed value.
7
Q
A
