David Saks

The commission rate for selling a condominium was 5% of the first 100 thousand dollars and 2.5% for anything over that amount. The brokers commission was $7,300

What did the condominium sell for ?

Answers below the wildlife photos. Please take your time.

A. $192,000

Let's see what the commission on 100k is by multiplying 5% times 100k, and we get 5000 dollars.

Now, subtract 5000 from the 7300 commission and that leaves us with 2300 dollars.

If you divide the 2300 difference by the 2.5% commission rate for anything over 100k, we now get 92k.

Add the 92k to the 100k and we find that the condominum sold for 192k.

A man bought a farm for 880 thousand dollars and sold it for one million dollars. The expenses he incurred from the sale of the farm were 10 thousand dollars.

His profit was what percent of his cost ?

Take your time. The answer is below the wildlife photo.

A. 12.5%

Let's first subtract 880 thousand from one million to find a profit of 120 thousand dollars.

Subtract the expenses of 10 thousand dollars from the profit of 120 thousand to get a net profit of 110 thousand dollars.

Now divide 110 tousand dollars by 880 thousand dollars and we see that the profit was .125 or 12.5% of his cost.

The municipality borrowed 2 million dollars for one year for the construction of an addition to a public school.

If 550 thousand dollars in total interest was paid at the end of the year, what was the rate of interest ?

The answer is posted below the wildlife photo. Take your time and 'bear with it'.

A. 2.75 % interest

Divide 500,000 by 2,000,000 and we get .275 or 2.75% in interest.

A man took out a loan for $1500 at the loan rate 5.5% or 5 1/2% per annum.

If he paid back the loan with 25 dollars in interest how long did he keep the money before he paid it back ?

The answer is below the wildlife photo. Take your time.

A. Four Months

Let's first find out what the annual interest is on 1500 dollars at 5.5% by multiplying .055 times 1500, and we get $82.50 .

Divide $25 into $82.50 and we get .333, or one third of a year, which is equal to four months..

A man borrows money for six months at 6% annual interest rate payable in advance.

How much does he have to borrow in order to have 1000 dollars in cash immediately ?

Answers and solution posted below the wildlife photo. Take your time.

A. $1031.915 or $1031.92 rounded

This is similar to a commission problem.

If he needs 1000 dollars right away let's find out what the interest is on 1000 dollars at 6% apr for six months in advance.

100% - 6% = 94% or .94

Divide .94 into 1000 and we get 1063.8297 or 1063.83 rounded.

Subtract 1000 from 1063.83 and we're left with 63.83 annual interest.

Divide 63.83 by 12 months to arrive at 5.3191 or 5.32 rounded.

Multiply 5.32 times six months and we now have $31.92 in interest to be paid in advance which indicates that in order to have 1000 dollars in cash immediately he has to borrow $1031.92 if six months of the interest is paid in advance.

I posted this to a blog and I was encouraged by a friend to post this to the community:

Many agents are start up agents, new entry, new affiliates, and don't have the financial advantages of our more affluent realtors. It's difficult for them to compete.

Even though fuel costs are predicted by some to rise again throughout America, the higher the costs of fuel, including heating, and the higher the cost of nearly everything else wrecks havoc on our financial resources.

We must find alternative resources to assist in the sale process, including more vigilant interaction with the internet and telecommunications.

Buyer and seller assisted agency, and the communication that proceeds throughout the interaction, is now at a critical point because the United States is experiencing the worst energy crisis in the history of our nation.

It's also very easy for some to support a war they don't have to fight, because they have the affluence to endure the deprivation of critical resources needed to support commerce and industry.

Deprivation of important resources which will ultimately disable America, because America's government has disabled it's citizens through the piracy of the essential resources needed for life-support, and has perpetrated corruption of the economy at an alarming and incalculable magnitude.

It's past the point of lowering fuel prices. Justice should and will be sought to compensate our people for the damages. Damages to our families, to our neighborhoods, to our schools, to our businesses, to the environment, to the economy, to our homes, to our faith.

May God bless and protect all of my colleagues here in Active Rain, your families, neighborhoods and friends. Thank you for reading my post. I wish for your much continued success in all of your endeavors.

Ecclesiastes Chapter 3 : Verses 1 through 8

If a property is assessed at $140,000 and the tax rate is $21 per $1000 of assessed value, how much will the owner be liable in taxes ?

Answers posted below the wildlife photo. Take your time.

A. $2940

Divide 140,000 by 1000 to get 140.

Next, multiply $21 times 140 and we get $2940 in property taxes due.

A salesman presents a listing on a parcel of land for 50 thousand dollars will only receive 10% of the totlal commission of 5% on the sale of the land.

If a second sales agent sells the parcel of land and his brokerage is to receive half of the total commission from the sale, and ten percent is deducted from his half of the total commission, how much would the second salesman receive ?

Answers below the wildlife pic. Have fun with the problems and please email if you have a problem or see that a correction is needed. Remember to include the problem number.

A. 1000 dollars

First, lets find out what a 5% commission on 50 thousand dollars is by multiplying 50k times .05 (5%) and we get $2500 dollars. Ten percent of that is 250 dollars when we multiply .1 times 2500, and that is what our listing agent receives.

Next, the cooperating salesman's take is 50% of the total commission so he gets 1250 dollars of the 2500 when we multiply 2500 by .5

And if the cooperating broker deducts 10% from the cooperating salesmans take of the 50% split, we find that when we multiply .1 times the total commission of 2500 dollars we have 250 dollars which is deducted from the cooperating salesman's 50% split of 1250 dollars, which leaves the cooperating salesman with 1000 dollars.

I was sitting here having a cup of hot chocolate on this cold Memphis morning thinking of things to come.

This past year has been a great challenge for so many of us.

Perhaps the greatest.

For our friends, our families, our loved ones, our colleagues, our clients, our customers, our communities.

Most of us realize by now that our beloved country is ravaged with economic catastrophe and millions of our fellow countrymen face great uncertainty when the sun rises.

Divorce, illness, bankruptcy, foreclosure and heart wrenching despair is causing many unfortunate and wonderful people to abandon hope, give up and lose faith.

Many feel as though nothing will turn out well.

Mental anquish, and pain causing distress and worry, has become pandemic.

The housing market is seeing very tough, new challenges placed in front of it, such as the tightening of income ratio requirements for loans and the requirement of substantially larger down payments for investor properties, since it's been said that some of the highest foreclosure rates occur among this category.

The same can be said for existing home sales in many areas.

Many wake up with dread in the wake of the new day and must contend with a vague, unpleasant emotion that is experienced in anticipation of some usually ill-defined misfortune because of rumor or of the negative judgment of our business that's not founded on proof or certainty.

It's anxiety at it's worst for many.

They live with a mental state characterized by a pessimistic sense of inadequacy and a despondent lack of activity.

Drive and motivation are tragically extinquished.

The state of depression has become so severe for so many that clinical intervention is required to help those in need.

My prayers are for our country, our communities and our loved ones this sad day.

I'm praying and asking the Lord for guidance for all of us and that we find the strength to love and care for each other in the years to come.

May God bless all of you this day, and may the Lord help you realize your dreams and hopes for a better future, and strengthen your heart so that you may find the love and courage to do good in all that you do.

-David-

Here's an easy one for you.

A real estate salesman receives a 5% commission for selling a house for $160,800.

How much does the salesman receive, and how much will the owner receive after the salesman is paid ?

Answers below the wildlife picture. Take your time.

A. The salesman will receive $8400 and the owner will receive $159,600.

To get the salesman's commission let's multply 5% or .05 times $168,000 to get a total of $8400.

To find out what the owner gets subtract the $8400 commission from the sale price of the home and we get $159,600.

Another way to get the amount due the owner is to multply $168,000 by .95 or 95% of the total sale amount.