19 Questions
| Attempts: 1037

Chapter 8 Mathmatics of Real Estate

Questions and Answers

- 1.Y An office manager waws paid $1,000 per month plus 1/4 of one percent of all office sales. In November, she received $2,780. This amount was based on monthly sales of
- A.
$556,000

- B.
$712,000

- C.
$912,000

- D.
$1,112,000

- 2.What investment is necessary for a yield of $500 per month at 6 percent interest?
- A.
$8,333.33

- B.
$60,000.00

- C.
$100,000.00

- D.
$120,000.00

- 3.A 30 acre rectangular parcel has 660 feet on the street side. What is the depth of the parcel in feet?
- A.
738.42

- B.
963.7

- C.
1240

- D.
1980

- 4.A list price was set to leave the owner with $90,000 after a 6 percent commission was deducted from the sales price. What was the list price
- A.
$95,400

- B.
$95,745

- C.
$95,905

- D.
$96,000

- 5.Which is the correct formula to determine the interest rate?
- A.
Interest rate = interest earned / principal

- B.
Interest rate = interest earned x principal x time

- C.
Interest rate = interest earned / time

- D.
Interest rate = interest earned x time

- 6.The next monthly interest payment on a loan balance of $17,835 is $132.28. the interest rate on the loan is what percent?
- A.
6.478

- B.
7.4

- C.
8.9

- D.
13.48

- 7.On a 70 foot by 70 foot rectangular lot, the side yard building setbacks are 10 feet. The front yard setback is 25 feet, and the rear setback is 20 feet. What is the maximum square footage possible for a one story structure?
- A.
1,000

- B.
1,200

- C.
1,250

- D.
4,900

- 8.J purchased 4 lots at $12,000 each and divided them into 6 lots that were sold for $9,600 each. What was J's [ercentage of profit based on his cost?
- A.
6%

- B.
12%

- C.
20%

- D.
24%

- 9.K purchased a property for $175,000. K wishes to sell the property. If the total selling costs will equal 11 percent of the sale price, how much will the property have to appreciate in value for K to break even?
- A.
$19,612

- B.
$20,311

- C.
$21,629

- D.
$23,730

- 10.A mill would be expressed as
- A.
$.001

- B.
$.01

- C.
$.1

- D.
$1.0

- 11.A house purchased four years ago for $50,000 has increased in value by 10 percent each year since purchase. The house is now worth
- A.
$66,550

- B.
$70,000

- C.
$73,205

- D.
$90,000

- 12.Builder / received a bridge loan for $72,500 at 12 percent interest. If his total interest costs were $5,075 how many months did it take to pay off the loan.
- A.
4.5 months

- B.
6 months

- C.
7 months

- D.
8 months

- 13.A property with a gross annual income of $20,000 has a value of $120,000, The only expense is the 11 percent interest payments on $100,000 straight mortgage. What is the owners percentage return on equity?
- A.
16.6%

- B.
20%

- C.
22.2%

- D.
45%

- 14.A one acre site has a 40' x 100' building. The building occupies what percentage of the site?
- A.
.025%

- B.
2.5%

- C.
9.2%

- D.
11.1%

- 15.D sold a note to E at .32 percent discount. D received $5,304. What was the amount due on the note?
- A.
$1,697

- B.
$6,800

- C.
$7,420

- D.
$7,800

- 16.A 50 acre rectangular industrial site fronting on a highway is 1,000 feet deep. Assuming a sales price of $3,000 per acre, what is the price per front foot?
- A.
$68.87

- B.
$74.93

- C.
$ 150.00

- D.
$3,4443.52

- 17.A fully rented ten unit apartment building has rents of $500 per month. A 10% rent increase brings a 10% vacancy factor. The gross income
- A.
Remains the same

- B.
Increases 1%

- C.
Increases 9%

- D.
Decreases 1%

- 18.A driveway was 1/2 a mile long and was two acres in total area. How wide was the road
- A.
11 feet

- B.
21 feet

- C.
33 feet

- D.
37 feet

- 19.A six foot wide sidewalk is to be constructed inside the perimeter (on the lot line) of two adjacent sides of a 60' x 100' rectangular corner lot. The sidewalk will contain how many square feet?
- A.
900

- B.
924

- C.
960

- D.
1,600

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