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1) A lot is 200 feet deep and 500 feet wide. How many square feet are
in the lot?
2) How many acres are in a lot that measures 100 feet deep and 200 feet
wide?
3) The county real estate property tax rate is $ 0.87 per $100 of assessed
value. If the assessed value is $250,000, what is the annual county tax
bill?
4) If the annual real estate tax bill is $3,000 and the tax rate is $1.25 per
$100 of assessed value, what is the assessed value?
5) What is the amount of excise tax the seller will pay in North Carolina
if the listing price was $145,000 and the final sales price was
$130,000? What will be the entry on the Closing Disclosure?
6) The listing firm and the selling firm will equally split the 6%
commission paid by the seller based on the final sales price. What
amount will each firm receive if the listing price was $190,000 and the
sales price was $189,000?
7) If the seller will pay a 5% commission, what will the seller receive
after paying the commission on a sales price of $80,000?
8) What is the commission rate if the seller wants to net $90,000 with a
sales price of $100,000?
11) The buyer is putting 15% down on a property with a sales price of
$90,000. What is the loan amount?
12) The lender is providing a loan that represents 90% of the sales price.
What is the borrower’s down payment if the sales price is $200,000?
13) The borrower makes $4,000 per month. If the lender allows a housing
debt ratio up to 30% of the borrower’s gross monthly income, what is
the maximum amount of housing debt allowed?
14) If the property sold for $100,000, what is the percentage of gross
profit if the original sales price was $80,000?
15) If the seller originally purchased the property for $120,000, what was
the selling price if the seller had a 20% loss?
ANSWERS: 15 Real Estate Math Questions
1) A lot is 200 feet deep and 500 feet wide. How many square feet are
in the lot?
Answer: 200 x 500 = 100,000 square feet
2) How many acres are in a lot that measures 100 feet deep and 200 feet
wide?
Answer: 100 X 200 = 20,000 square feet
20,000 divided by 43,560 = 0.46 acres
3) The county real estate property tax rate is $ 0.87 per $100 of assessed
value. If the assessed value is $250,000, what is the annual county tax
bill?
Answer: 250,000 divided by 100 = 2,500 X 0.87 = $2,175
4) If the annual real estate tax bill is $3,000 and the tax rate is $1.25 per
$100 of assessed value, what is the assessed value?
Answer:
The equation with known variables is noted below:
Assessed value
____ X 1.25 = $3,000
100
6) The listing firm and the selling firm will equally split the 6%
commission paid by the seller based on the final sales price. What
amount will each firm receive if the listing price was $190,000 and the
sales price was $189,000?
7) If the seller will pay a 5% commission, what will the seller receive
after paying the commission on a sales price of $80,000?
8) What is the commission rate if the seller wants to net $90,000 with a
sales price of $100,000?
Answer: Equation:
Sales price X (100-commission rate) = seller receives
100,000 (100-commission rate) = 90,000
Divide both sides of the equation by 100,000
90,000 ÷100,000 = .90 X 90%
90% received means seller paid a 10% commission
Or:
100,000 – 90,000 = 10,000 / 100,000 = .10 X 100 = 10%
12) The lender is providing a loan that represents 90% of the sales price.
What is the borrower’s down payment if the sales price is $200,000?
13) The borrower makes $4,000 per month. If the lender allows a housing
debt ratio up to 30% of the borrower’s gross monthly income, what is
the maximum amount of housing debt allowed?
15) If the seller originally purchased the property for $120,000, what was
the selling price if the seller had a 20% loss?
Answer: A 20% loss means the seller only received 80% of the
original purchase price.
Or: