David Saks: September 2008

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Math Class : Answer Page Problems 1 through 10

                                          answers

                                                           1-10

The answers to the real estate math problems will be posted in increments of ten at a time. The comments feature has been deactivated in order to allow you to find the answer on your own.

1. 0%

Four parcels cost 12000 and so do six. No profit.

2. 14.2857%

Four parcels cost $14k and 6 parcels cost $12k. The profit is $2k, and $2k divided by $14k equals .142857 or 14.29% rounded.

3. $35k

$20k divided by 12 months = $1666.67 monthly salary

$1666.67 times 25% or .25 equals $416.67 monthly PITI

$678.24 Annual tax and insurance divided by 12 months equals $56.52 monthly tax and insurance

$416.67 monthly PITI minus $56.52 monthly TI equals $360.15 monthly PI

$360.15 monthly PI divided by Pi factor of $10.29 times $1000 equals $35k

4. $134.75


16 mills + 22½ mills = 38 ½ mills = .0385

5,000 x .70 = 3,500 (assessed value)

3,500 x .0385 = 134.75 (taxes)

5. $198.00

6,000 x .60 = 3,600 (assessed value)

3,600 x .055 = 198.00 (taxes)

6. 1,275

100% - 15% = 85% = .85

30,000 x .85 = 25,500

25,500 x .05 = 1,275

7. $26,315.789474

25000 divided by .95 equals $26315.789474 or $26,315.79

8. $6000

.025x = 150

x =  150 / .025

x = 6,000

9. $11.818.18

1.1x = 13,000

x=13,000 / 1.1

x = 11,818.18

10. $412.50

$20,000 times 8.25 % equals $1650

$1640 divided by 12 equals $137.50

3 times $137.50 equals $412.50

wildlife




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • September 07 2008 05:49AM
Real Estate Math Class : Answer Page Problems 1 through 10
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