- Mathematics
Review Test 16 Questions
- Question
1 of 16 Commission
- Sold
$ 62,000
- 7
% Com
- 25
% List agent
- 30
% Sell agent
- What
list agent
get ?
- $62,000
X .07 = $ 4,340
Tot Com
- 4,340
X .25 = $ 1,085
Lister
-
-
- QUESTION
2 of
16 CARPET
-
- AREA
PROBLEM
ft to
yds
- 11+
14 = 25/2 = 12.5 Ave width
- 10
X 12.5 = 125 Sq. Ft.
- 125
/ 9 = 13.88 Sq. Yd.
- 14.95
& 3.50 = 18.45 S.Y.
- 18.45
X 13.88 =
256.27
-
- Question
3 of 16 3
Investors
- 40,000
+ 20,000 = 60,000 Is known
- 150,000
Total is known
- 60,000
/ 150,000 = .40 = (40 %)
- 100
% Less 40 % = 60
%
- Or
- 40,000
+ 20,000 = 60,000 Is known
- 150,000
Total is known
- 150,000
- 60,000 = 90,000
- 90,000
/ 150,000 = .60 =
60 %
-
- Question
4 of 16 Curious Father
-
- Interest
$ 582.84
- Rate
12 % or
.12
- 582.84
Mo int x
12
mo = 6,994.08 Year
- 6,994.08
/ .12 = $ 58,284
- Or
- 582.84
Mo. Int / .01 = $ 58,284
- Mo.
Int /
mo factor for
interest rate
-
- Question
5 of 16 Appreciation of House
- 102,900
A yr ago
- 4
% Increase
- 2
Ways
- 102,900
X 4 % = 4,116
- 102,900
+ 4,116 = $ 107,016
- Or
- 102,900
X 104 %
=
107,016
-
- Question
6 of 16 Tax
Assessment
- 75,000
X .80
= 60,000
- 60,000
= 600 $
100 Bills
- 600
X $ 3.25 =
$ 1,950 Yr
- 1,950
/ 12
=
- $162.50
Month
-
- Question
7 of 16 Patio
Volume
- 6
Inches = .5 Feet
- Vol
= l x
w x
depth
- 24
+ 32 = 56 / 2 = 28 Ave
- 28
X 16 x .5 = 224
Cu ft
- Concrete
in Problem 7
- Sold
$50 /cu. Yard
- 224
Cu. Feet /
27 = 8.296 X $ 50 = $
414.50
- Watch
for whole yards
-
- Question
8 of 16 Commission
- You
get 500 plus
3
% listings
- 2.5
% On sales
- U
get $ 7,350 salry & comm
- 7,350
- 500 = 6,850 Comm
- 6,850
/ .025 = $ 274,000
-
-
- Question
9 of 16
Fenced Back Yard
- Enclose
part of the back yard
- $7.25
Per linear foot
- Key
words ì back of houseî
- Draw
a figure 60ft x 85ft
3 sides
- No
fence along back of house
- Fence
Continued
- 2
Sides @
85 ft and 1 side @ 60
=
- 230
Feet along a line
- 230
Feet x $ 7.25 Per foot = $ 1,667.50
Answer
-
-
- Question
10 Of 16 Capitalization
- 24
Apartments
- $
6,000 Monthly
- 9
% Return ( rate )
- ?
Original purchase price
- 6,000
X 12 mo =
$ 72,000 year
income
- 72,000
/ .09 =
$ 800,000 Answer
-
-
- Question
11 Of 16
Pro Rate
- $
1,860 Tax
not paid
- Close
April 15,
- ?
Credit to buyer
-
( not
in Maryland )
- Months
used and not paid for =
- $
1,860 / 12 Mo
= $ 155
- 3.5
Mo used x $ 155 = $ 542.51
Answer
-
- Question12
of 16
Assumption - Pro Rate Interest
- $
65,400 balance after last pymt
- Sept
1 last payment
- 11%
( .11
) Interest rate
- Interest
paid in advance -- not
normal !!
-
- Close
Sept 14
- (seller
pays day of close)
- 65,400
X .11 = 7,194 Yr
- $
7,194 / 360 days = $
19.983 Per day
-
- Seller
paid for 30 days interest
- Only
used 14 days Sept 1 to 14
- Due
16 days back
- 19.983
X 16 days = $ 319.73
Answer
-
-
- Question
13 Of 16 Insurance Pro Rate
- Sell
Oct 10, 1990
- 3
Year fire policy
- expire
may 31, 1991
- Original
premium $ 740
- 3 yrs
- ?
Buyer pays to seller at closing
-
- $
740 / 36 Months = $ 20.555/Mo
- Oct
10, 1990 to may 31, 1991= 7.66 Mo
- 20.555
X 7.66 Mo = $ 157.46
-
- Question
14 Of 16 Tax Pro Rate
- $
1,630 Tax
paid
- Close
Nov 4
- ?
Credit to seller
- $
1,630 / 360 Days = $ 4.527 / Day
- 26
Days Nov & 30 days Dec. =
56 Days
- 56
Days x 4.527 Per day tax = $ 253.56
Answer
-
- Question
15 Of 16
Assumption Pro Rate Interest
- $
64,750
( Paid thru Aug 1 )
- 12
% ( .12 )
Rate
- paid
in arrears
- Close
August 18
- Seller
owes but not paid for
- 18
days
-
- $
64,750 X .01 = $
647.50
- Interest
for 1 Month
- 647.50
/ 30 Days = $ 21.583 Per day
- $
21.583 Per day X 18 days = $
388.50
-
-
- Question
16 Of 16 Lots
in a Farm
- 200
Acre farm
- 43,560
SF = 1 acre
- 1/8
Street (12.5%
)
- So
7/8 lots
(87.5%)
- 220
Lots in entire farm
- ?
Square feet a 1 lot
-
- 43,560
X 200 acres
= 8,712,000 SF total
- 8,712,000
X .875
= 7,623,000 SF
lots
- 7,623,000
/ 220 Lots =
34,650 SF
per lot
- Extra
question not part of the 16 questions
You Borrow $115,000 at 8%
for 30 Years with a monthly principal and interest payment of $844
How Much Interest will you pay over 30 years ?
- $
844 X
360 months
- $
303,840 P & I
- -
115,000 P
- $188,840
Interest
-