Download Solving Math Problems Questions And Answers and more Exams Mathematics in PDF only on Docsity!
Answers
Monthly rent payment - correct answer 1. find square feet in office
- multiply my monthly rate Commission price - correct answer 1. sq ft
- sales price (price per foot X sqft
- commmission rate X sales price Square yard by feet - correct answer 9 sqft To find out how many square yards there are in 252 square feet, divide 252 by 9. - correct answer 28 sq yards To find the square footage of this parcel, simply multiply 43,560 by 5, to find that the lot is 217,800 square feet. You may also need to convert acres into square miles, or even square feet into square miles. You'll need to remember that there are 640 acres in a square mile, and 5,280 feet in a mile. - correct answer Area of a triangle - correct answer = ½ Base × Height.
Answers
Narrative question - correct answer In this situation, it's best to draw your own diagram based on the description given in the narration. surface area - correct answer Width X length X height Cubic foot - correct answer 1X1X1 = 1 cubic foot Cubic Yard - correct answer 3X3X3=27 cubic feet=cubic yard 40X9X7-2,520 cubic feet - correct answer 2,520 / 27 = 93.3 cubic yards
- correct answer 1000 X 6 X .5 = 300 cubic feet 300/27 = 11.1 cubic yards Sometimes a percentage includes a fraction; for example, 7 4 5 % To convert the fraction into a decimal, divide the numerator (4) by the denominator (5). The answer is 0.8.
Answers
Those are quarterly payments in a banker's year. (For the sake of simplicity, a banker's year is 360 days, and every month has 30 days, including February.) The 90-day interest payment will be made four times annually. Sharon's mortgage loan agreement calls for interest payments in the amount of $3,162.50 every 90 days. If her loan balance is $230,000, what is the loan's interest rate? - correct answer $3,162.50 x 4 = $12, -The loan balance is the larger number, so it should be placed on the left side of the equation. -The question mark is in the middle. -$12,650 ÷ $230,000 gives you an interest rate of .055, or 5½%. Monthly Interest rate - correct answer you multiply the monthly interest payment by 12, and then proceed to solve the problem in the same way you solved the ones involving annual, semiannual, or quarterly payments.
Answers
The interest portion of Walter's monthly payment is $1,035. If his loan balance is $184,000, what is the interest rate? - correct answer -Multiply $1,035 by 12, which gives you a total of $12,420 in annual interest. -Now you know two components to plug into the percentage formula, the loan balance ($184,000) and the annual interest ($12,420). -Once again, put the loan balance on the left side of the equation, and the annual interest on the right. -$12,420 ÷ $184,000 = 0.0675. The interest rate is 6¾%. Amortization - correct answer Some questions about loans and interest rates ask you to determine a loan's current principal balance. For example, you might be asked what a loan's balance is prior to the fifth payment, if the interest rate is 7% and the interest portion of that payment is $2,566.67. You'll solve this type of problem the same way as the others. -First multiply $2,566.67 by 12 for an annual interest figure. Then divide by 7% (the interest rate) for the loan balance.
Answers
Principal payment balance After the third principal and interest payment of $985.89, the loan balance is $140,684.11. - correct answer 1. loan balance X 4% interest rate = annual interest
- annual interest rate/12=
- p&I payment - interest (640)=276.
- 192,000 (loan banace) -276.4 (principal) = 191,723. $240,000 ÷ 70% = $342, So Sue originally paid $342,857 for the house. - correct answer Then X Percentage = Now
- correct answer sue paid for home (100%) - percentage lost (30%) = sue received (70%)
- correct answer Sue paid for home + percentage gained = sue received
- correct answer Present Value: $360,
Answers
Depreciation: 22% Original Value? current value - 240, 4 1/2% per year value five years ago - correct answer 100-4 1/2 = 95 1/ %
- 240,000 / 95.5%= 251,309 1years
- 251,309 /95.5% 263,151 2years
- 263,151/ 95.5% =275,551 3years
- 275,551/95.5%=288,535 4 years
- 288,535 /95.5%=302,131 5 years compound appreciation for four years - correct answer 1.? X 1.04 = $300,
- 300,000 / 104%
- 288,462 / 104%
- 277,367 / 104%
- 266,699 / 104%
Answers
Changing the cap rate - correct answer Selecting a capitalization rate is an investor's personal decision. The investor who was willing to pay $2,125,000 for the Concord Plaza was satisfied with a 9.5% return on her investment. $201,875 is 9.5% of $2,125,000. 201,875 // 9.5% Investors - correct answer Chart comparing property's value for two investors using different cap rates. However, suppose another investor insisted on a 10.5% return. He wouldn't pay $2,125,000 for the Concord Plaza, because $201,875 isn't 10.5% of $2,125,000. He would offer less for the property. How much less he'd offer can be determined by the capitalization formula.
Answers
$201,875 divided by 10.5% results in a value of $1,922,619. Using a capitalization rate of 10%, Tennyson Manor is valued at $1,500,000. What would the property's value be with an 11% capitalization rate? - correct answer Value X Cap Rate = Income - correct answer Income changes , rate fixed Rate changes, income fix - correct answer the top chart shows what happens to a property's value if the cap rate doesn't change, but the income does. With the same cap rate, a decrease in income causes the value to decrease, too. Likewise, an increase in income causes an increase in value. The bottom chart shows what happens to a property's value if the income doesn't change, but the cap rate does. With the same income, increasing the cap rate causes the value to decrease. And decreasing the cap rate causes the value to increase. In other words, the rate
Answers
Let's look at examples of both of these versions of this type of problem. operating expense ratio - correct answer tells you what percentage of the gross income goes to pay the operating expenses. -A convenience store grosses $758,000 annually. It has an OER of 87%. With a capitalization rate of 9¼%, what is the capitalized value of the property? Try to solve the problem, and then advance to the next frame for the answer OER cal. net income - correct answer Multiply the gross income ($758,000) by the OER (87%) to determine the store's annual operating expenses. Then subtract the operating expenses from the gross income to arrive at the net operating income. Once you have the net income, divide that figure by the capitalization rate (9¼%) to determine the value of the property.
Answers
Subtracting operating expenses - correct answer Now let's look at the other version of this type of problem. You're given the gross income and a list of specific operating expenses, which you subtract from the gross income to determine the net income A six-unit apartment building rents three of its units for $650 a month and the other three for $550 a month. The annual operating expenses include $4,800 in utilities, $8,200 in property taxes, $1,710 in insurance, $5,360 for maintenance, and $2,600 in management fees. - correct answer 650 monthly rent X 3 units =1950per month X 12 months = 23, -- 550 monthly rent X 3 units=1650X 12 months = per year
23,400+ 19800=43,200 gross anual income
Total annual expenses =22,
Answers
Tax assessment Problems - correct answer The basic formula is Assessed Value x Tax Rate = Tax. Assessment ratio - correct answer assessed value - value for taxation purpose - based on market value market value X assessment ratio = assessed value assessed value X tax rate =Tax -It isn't unusual for a tax assessment ratio to be quite low; for example, property might be assessed at only 25% of its market value. It isn't unusual for a tax assessment ratio to be quite low; for example, property might be assessed at only 25% of its market value. -But a 25% assessment ratio doesn't necessarily mean the tax will be lower than it would be if the ratio were 75%, or even 100%. As a rule, when the assessment ratio is set low, the tax rate is set high, so it balances out. - correct answer 200,000 market value X 25% assessment ratio= $50, assessed value
Answers
- correct answer On the state exam, you're more likely to see the tax rate expressed as a dollar amount per hundred dollars of assessed value, or per thousand dollars of assessed value. -For instance, a property assessed at $125,000 might be taxed at a rate of $2.10 per hundred dollars of assessed value. -To find the tax amount, you first divide the assessed value, $125,000, by 100 to determine how many hundred dollar increments make up the value. =$125,000 ÷ 100 = 1,250. -The next step is to multiply that number by the tax rate of $2.10. 1,250 × $2.10 = $2,625. Tax rate - correct answer assessed value -125,
- 125,000/100 = tax rate 2.10 per $100 of assessed value
- 1,250 X 2.10 = Market value 396,000 assessment ratio 100%, tax rate 9.75 per thousand - correct answer step 1 - 396000/
Answers
- 6,300 × $4.50 Tax Rate = $28,350 Tax A property's market value is $300,000, and it's assessed at 50% of its value. What is the tax rate per $100 of value if the tax is $8,625? - correct answer 1. $300,000 × 50% = $150,000 Assessed Value
- $150,000 Tax ÷ $100 = 1,500 Increments
- $8,625 ÷ 1,500 = $5.75 Tax rate per $ A $550,000 property is assessed at 25% of its market value. What is the tax rate per $1,000 of assessed value if the tax is $11,893.75? - correct answer 1. $550,000 × 25% = $137,500 Assessed Value
- $137,500 Tax ÷ $1000 = 137.5 Increments
- $11,893.75 ÷ 137.5 = $86.50 Tax rate per $1, Property taxes on a parcel of real estate are 2950. the property is assesed at 25% of market value and the tax
Answers
rate is 50 mills. What is the marekt value of the property - correct answer 1. assessed value X .050 (50 mills)=
- 2950/.050 =59000 assessed value 3.? X 25% assement ratio - 59000
- 59000/25% = 236000 market value Here's an example. Suppose a house sells for $326,064. -The sellers must pay off a $184,200 mortgage, pay $26,300 in other specific costs, and pay a 6% commission to their real estate brokerage. -How much do the sellers net on this transaction? - correct answer 1.First, calculate the amount of the commission. Multiply $326,064 by 6% to find that the commission is $19,564. 2.Next, sNext, subtract the commission from the sales price; after subtracting the commission, the sellers are left with $306,500. 3.Finally, subtract the $184,200 mortgage and all the other costs, totaling $26,300, which leaves the sellers with a net of $96,000. 4.Do you recognize these numbers? You just did our previous example, except working through the steps backwards!
