Unit 24 Quiz Attempt #4

Change 32% to a decimal.

Convert 0.7564 to a fraction.

32% of $62,000 = ?

What is 1 square foot?

What’s 1 mile in feet?

What is 1 acre?

What’s 1 square mile?

You want to replace the crown molding in your living room. The cost of the new crown molding is $1.50 dollars per linear foot. You measured your living room and found that the room is 12 feet by 10 feet. What’s your total linear feet and how much will the new crown molding cost?

A property measured at 500 feet by 700 feet. The area’s average front footage value is $275 per front foot. What is the property value?

Alex is looking to get a loan for a new condo. He earns a gross monthly income of $4,200 and a net income of $3,300. The lender Alex is working with is lenient and will fund loans at the high end of the housing debt-to-income ratio (28%). How large of a house payment can Alex afford to qualify for a loan?

A borrower takes out a loan of $150,000 on a home worth $200,000 (the remaining $50,000 was paid up front as a down payment), what’s their loan-to-value ratio.

What’s a “point”?

What is an annual Debt-to-service on a mortgage?

Under Georgia Law, how do you calculate assessed value?

How do you find millage rate?

How do you calculate the annual property tax?

Jake pays 4,250 a year in property taxes. He decides to sell the property to Mary. The sell closes August 5th. What is the proration?

You have a property listed at $130,000. The commission rate listed in the listing agreement is 6%, which you will split evenly with the buyer’s representative. What’s your share.

Your seller wants to net $65,000 after the 6% commission is paid, but before other closing costs are figured in. At what price does the home need to sell for the seller to net this amount?

What is the equation for total commission?

The rate of return’s purpose is:

The buyer’s adjusted interest for march is___ when the loan amount is $210,000, 6% interests, and closing date of March 17.

A real estate sale closed on November 30. Seller paid their yearly hazard insurance premiums of $1,750 a year and policy anniversary date was May 10. What is the amount the homeowner’s would receive as a refund for the unused portion of their homeowner’s yearly premium?

If the seller receives $475 as their homeowner’s yearly premium refund, what is the cost for the yearly hazard insurance premium? (The real esate closed on Feb 28th and the policy anniversary date is July 3rd).

An owner desires to net $147,600 from the sale of her home. Broker Bailey accepts the listing with a 6.5% commission. The list price will be?