MATH QUIZ

Math Tutor

 

Calculators are allowed, but you may not use any function keys that perform a complete formula.

Percent key or any functions that appear on the most basic calculators are OK.Scrap paper is also allowed.

Open to a full window to get the proper effect.If a smaller window opens, open that to a full window also.

 

QUESTION 1

 

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?

 

    1. $68,640.00.
    2. $100,000.00.
    3. $112,820.51.
    4. $107,360.00.

 

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QUESTION 2

 

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

 

QUESTION 3

 

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.

d.      None of the above.

 

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QUESTION 4

 

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 brokerís) share.What is the sale price of the house?

 

a.      $92,147.43.

b.      $138,221.15.

c.      $69,920.00.

d.      None of the above.

 

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QUESTION 5

 

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.

 

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QUESTION 6

 

If you sold a condo for $98,000, and thatís 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.

 

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QUESTION 7

 

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.

 

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QUESTION 8

 

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 at7.5%?

 

††† a.†† $24.07.

††† b.†† $252.15.

††† c.†† $288.79.

††† d.†† $855.62.

 

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FACTOR CHART

 

††††††††††† 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

 

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QUESTION 9

 

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.

††††††††††† ††† d.†† None of the above.

 

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QUESTION 10

 

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.

††† d.†† None of the above.

 

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QUESTION 11

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.

 

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QUESTION 12

 

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.

 

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QUESTION 13

 

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.

 

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QUESTION 14

 

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.

 

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QUESTION 15

 

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?

 

a.†† 1225 minutes.

b. ††58 minutes and 33 seconds.

c.†† 1 hour, 21 minutes and 40 seconds.

d.†† 1 hour, 22 minutes and 50 seconds.

e.      None of the above.

 

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