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A
woman sells her property for $88,000.00, which was a 22% loss from her original
purchase price. What was the original
purchase price?
If
twelve woodchucks can chuck twenty cords of wood in two days, how much wood
could twenty woodchucks chuck a day, if a woodchuck could chuck wood?
a. 12 cords
b. 33.33
cords
c. 16.67 cords
d. 6
cords
A
seller wants to net 70,000 dollars, after paying off a $93,000 mortgage, a 10%
commission and $4000 in miscellaneous closing costs. What must the house sell for in order to do this?
a. $183,700.00.
b. $185,555.55.
c. $174,000.00.
The
listing salesperson on a sale receives a $2300 commission. The seller pays an 8% commission, which is
divided between the brokers. The
listing broker pays the selling broker 40% of the total commission, and pays
the salesperson 52% of his (the listing broker’s) share. What is the sale price of the house?
a. $92,147.43.
b. $138,221.15.
c. $69,920.00.
If
you bought a house for $140,000, sell it for 10% more, and pay 10% in
commission and other closing costs, what will you net at settlement?
a.
$140,000.00.
b. $169,400.00.
c.
$141,414.13.
d.
$138,600.00.
If
you sold a condo for $98,000, and that’s a 14% loss from your original purchase
price, what did you pay for it?
a. $113,953.48.
b.
$111,720.00.
c.
$84,280.00.
d.
$128,947.36.
A
four sided lot has two parallel sides of 140 feet and 380 feet, and a depth of
190 feet. It sells for $3.50 per square
foot with an 8% commission. The listing
broker pays the selling broker 45% of the commission. What is the dollar amount received by the listing broker?
a.
$6224.40.
b.
$7607.60.
c.
$13,832.00.
d.
$15,215.20.
A buyer can get a $119,500
loan for 30 years at 7.75%. Using the
factor chart below, how much more would the monthly payment be for a 15 year
loan at 7.5%?
a. $24.07.
b. $252.15.
c. $288.79.
d. $855.62.
Term/Rate 15 years 20 years 25 years 30
years
7% 8.98 7.75 7.06 6.65
7.25 9.12 7.90 7.22 6.82
7.5 9.27 8.05 7.38 6.99
7.75 9.41 8.20 7.55 7.16
8 9.56 8.37 7.72 7.34
Using the same chart, what
is the maximum purchase price a buyer could have for a home if they can afford
an $750.00 monthly payment for principal and interest, can make a $12,000.00
downpayment and get a 20 year loan at 8%?
a.
$89,605.73.
b.
$112,500.00.
c.
$124,500.00.
What are the taxes on a
$180,000.00 house if properties are assessed at 40% of market value, and the
tax rate is $2.80 per hundred dollars of assessed value?
a.
$257.14.
b. $2016.00.
c.
$5040.00.
If a house sells for
$124,900, and the buyer gets a loan with a 90% loan-to-value ratio, what will
the seller's closing costs be if they are paying an 8% commission, 3 points for
the buyer, and 2100 dollars in additional closing costs?
a. $15,464.30.
b. $15,839.00.
c. $15,026.52.
d. $14,465.10.
The interest payment on a
loan this month is $420.00. The
interest rate on the loan is 8%. What
is the current balance of the loan?
a.
$5250.00.
b.
$40,320.00.
c.
$52,500.00.
d. $63,000.00.
If the taxes on a
property are $1400, the market value of the property is $90,000, and the
property is assessed at 45% of market value, what is the tax rate in mills?
a.
7.
b.
28.93.
c.
34.57.
d.
70.
A tract of land measures
300 feet by 5280 feet. How many acres
is this equivalent to?
a. 36.36.
b. 300.
c. 792.
d. 1,584,000.
If a student can finish 15
math questions in 35 minutes, how long would it take this same student to
complete 35 math questions, assuming they work at the same pace?
c. 1 hour, 21 minutes and 40
seconds.
d. 1 hour, 22 minutes and 50
seconds.
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