Questions and Answers
How many acres are there in a triangular parcel of land that measures one mile wide by one and a half miles deep?
480 acres
What is the annual net income for an owner of a duplex who earns a 12% return on his investment of $273,000?
$32,760
What is 6 1/4 % expressed as a decimal rounded to four decimal places?
0.0625
What is the maximum size for a building on a city lot measuring 100 feet x 250 feet with a maximum lot coverage of 40%?
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How many square yards of carpeting would be needed for a room measuring 24 feet by 30 feet?
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If the interest rate is 12% per year simple interest and the monthly interest payment is $115, what is the amount of the loan?
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What is the total amount due on a note dated June 6, 2012, for $3,900 at an annual interest rate of 6% with a maturity date of May 6, 2013?
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What is the square footage of the floor area inside a house that is 32 feet wide and 63 feet long with walls 9 inches thick?
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How much will Broker Martin receive from selling a home for $350,000 with a 6% brokerage commission split equally?
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What is the number of cubic feet in a brick wall that measures 2 feet deep, 6 feet high, and 55 feet long?
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What is the minimum amount a seller must sell her house for to net $55,000 after paying a brokerage fee and closing costs?
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$250,000 is 109% of what number?
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What is the rate of return an investor earns on a four-plex purchased for $650,000 with rental income and annual expenses?
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If Nate borrowed $62,000 at 9.4% interest and owed a total of $910.90 interest upon repayment, how many days did he keep the money?
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9 3/5 % as a decimal, rounded to 3 decimal places is:
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Study Notes
Real Estate Calculations and Key Figures
- A triangular parcel of land measuring one mile wide by one and a half miles deep contains 480 acres.
- Annual net income for a duplex investment of $273,000 at a 12% return is $32,760.
- 6.25% expressed as a decimal is 0.0625.
- A city lot of 100 feet by 250 feet with a maximum lot coverage of 40% allows for a maximum building size of 10,000 square feet.
- To carpet a room measuring 24 feet by 30 feet, 80 square yards of carpeting is required.
- At a 12% annual simple interest, a monthly interest payment of $115 corresponds to a loan amount of $11,500.
Interest and Maturity Calculations
- A $3,900 note dated June 6, 2012, with 6% simple interest will total $4,114.13 by the maturity date of May 6, 2013.
Property Measurements
- The interior floor area of a house measuring 32 feet wide by 63 feet long (with 9-inch thick walls) is approximately 1,876 square feet.
- The volume of a brick wall measuring 2 feet deep, 6 feet high, and 55 feet long is 660 cubic feet.
Selling and Closing Costs
- To net $55,000 after paying a 6% brokerage fee and $1,400 in closing costs, a seller must sell their house for a minimum of $368,510.
Percentages and Investment Returns
- $250,000 is 109% of approximately $229,357.79.
- An investor who purchased a four-plex for $650,000, with each unit renting for $950 per month and annual expenses of $8,000, will earn a 5.78% return on their investment.
Loan Duration Calculation
- Nate borrowed $62,000 at an interest rate of 9.4% per year and owed $910.90 in interest, implying he kept the money for 57 days.
Decimal Conversions
- 9 3/5% expressed as a decimal is 0.096 when rounded to three decimal places.
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Description
Test your knowledge on key concepts from Chapter 18 of California Real Estate Principles. This quiz covers important calculations related to land measurements, investment returns, and interest rates. Prepare yourself for real estate success with these flashcards!
