There are several different ways to approach a math problem and arrive at
the correct answer. The solutions provided here are believed to be the most basic
approach.
Remember:
To change a fraction to a decimal, divide the numerator by the denominator
Examples:
½ = 1 ÷ 2 = .5
¼ = 1 ÷ 4 = .25
To change a percentage to a
decimal, move the decimal two places to the left
Examples:
50% = .50 95% = .95
3% = .03
To change a decimal to a
percentage, move the decimal two places to the right Examples:
.5 = 50% .25 = 25%
1.50 = 150% |
1. 6,500 ÷ 12 = 541.67
541.67 x 5.5 = $2,979.19
2. 1,712 ÷ 90 = 19.02
19.02 x 19 = $361.38
3. 405,000 x 3.5% = 14,175 (Down payment)
405,000 x 96.5% = 390,825 (Loan amount)
390,825 x 1.5% = 5,862.38 (Points)
$14,175 (down payment) + $5,862.38 (Points) = $20,037.38
4. 319,000 x 5% = 15,950 (Gross commission)
15,950 ÷ 2 = 7,975 (50% of gross commission)
7,975 x 30% = 2,392.50 (Broker's share of listing side)
7,975 x 50% = 3,987.50 (Broker's share of selling side)
2,392.50 + 3987.50 = $6,380
5. 100% - 4.5% (broker's commission) = 95.5% (Sellers required share)
280,000 (seller's required net) ÷ 95.5% = $293,193.71
6. 325,000 ÷ 1,000 = 325
325 x $6.00 = $1,950
7. 216,000 x 6.25% = 13,500 (Annual interest)
13,500 ÷ 12 = $1,125 (1 month interest)
8. 369,000 X 63% = 232,470 (Assessed value)
232,470 ÷ 100 = 2,324.7 (Units of 100)
2,324.7 x 3.81 = 8,857.11 (Annual taxes)
8,857.11 ÷ 360 = 24.60 (Daily tax rate)
24.60 x 19 days = $467.40
9. 525,000 ÷ 2,750 = $190.91
10. 100% + 12% = 112%
630,000 ÷ 112% = 562,500
562,500 ÷ 112% = 502,232.14
502,232.14 ÷ 112% = 448,421.55
448,421.55 ÷ 112% = 400,376.38
11. 125 x 70 = 8,750 x 4 floors = 35,000 sq. ft.
35,000 - 1,200 (Unusable space) = 33,800 (Rentable space)
20.75 x 33,800 = 701,350 (Annual rent)
701,350 ÷ 12 = $58,445.83 (Monthly rent)
12. 25 acres x 24% = 6 Acres, open space
19 acres ÷ .5 = 38 Lots
38 lots x 175,000 = $6,650,000
Option B $6,650,000
Option A -5,000,000
$1,650,000
13. _________________________________
/| | |
/ | | |
/ | | |20'
/ | | |
/ | | | __________
/ |50'| (B) || |
/ | | || |
/ (A) | | || (C) |
/ | | || |
/_________| |_________________________________||__________|
15' 155' 20'
AREA
A) 15 x 50 = 750 ÷ 2 = 375 Square feet
B) 155 x 50 = 7,750 Square feet
C) 20 x 30 = 600 Square feet
375
1,750
+ 600
8,725 Total area
$116,141 ÷ 8,725 = $13.31 Per square foot
If the neighbor bought the land, he would be buying the
triangular section (375 square feet)
$13.31 x 375 = $4,991.25
$4,991.25 Cost to buy the land
-1,425.00 Cost to rebuild the fence
$3,566.25 Difference
14. 1.87 x 43,560 (Square feet in an acre) = 81,457.2
3.55 x 81,457.2 = $289,173.06
15. 1,640 x 12 = 19,680 (Annual interest)
19,680 ÷ 7% = 281,142.85 (Loan amount)
281,142.85 ÷ 85% = $330,756.29 (Purchase Price)
16. 15,000 x 40% = 6,000 (Monthly expenses)
15,000 - 6,000 = 9,000 (Monthly net income)
9,000 x 12 = 108,000 (Annual net income)
108,000 ÷ 9% = $1,200,000
17. 359,000 ÷ 135% = 265,925.92
18. 419,500 x 5% = 20,975 (Gross commission)
20,950 x 50% = 10,487.50 (Gross commission, Sam's office)
10,487.50 x 55% = $5,768.13
19. $629,000 x 5% = $31,450 Sales commission
Closing Costs
$31,450 Commission
5,492 RTF
2,500 Concession
2,350 Legal and other
$41,792
$629,000 (sale price) - 41,792 = $587,208
$587,208 - 392,000 (mortgage payoff) = 195,208 Seller's Net
20. 100% - 7% = 93%
999,000 x 93% = 929,070
929,070 x 93% = 864,035.10
864,035.10 x 93% = 803,552.64
803,552.64 x 93% = 747,303.95
747,303.95 x 93% = 694,992.68
21. 14 x 16 = 224 sq. ft.
224 ÷ 9 = 24.89 sq. yds.
22.45 x 24.89 = $558.78
22. 375,000 ÷ 1,000 = 375
6.00 x 375 = 2,250
7,586 + 628 = 8,214
8,214 ÷ 12 = 684.5
2,250 + 684.5 = $2,934.50
23. 27.50 x 25,000 = 687,500
4,500,000 - 4,200,000 = 300,000
300,000 x 2.5% = 7,500
687,500 + 7,500 = $695,000
24. Present rent = 100%
Increased Rent = Present rent + 3% (103%) each year
$2,350.00 x 103% = $2,420.50
$2,420.50 x 103% = $2,493.12
$2,493.12 x 103% = $2,567.91
$2,567.91 x 103% = $2,644.95
25. 93,000 x 40% = 37,200 (Expenses)
93,000 - 37,200 = 55,800 (Annual net income)
55,800 ÷ 9.5% = $587,368.42
26. 100 x 135 = 13,500 sq. ft.
13,500 x 18 = 243,000 cu. ft.
27. $495,000 x 80% = $396,000
$7.778 x 396 = $3,080.09
