Real Estate Math: Explanations, Problems and SolutionsUnderstanding real estate transactions is essential to passing the real estate exam and being a successful agent. Real Estate Math: Explanations, Problems, Solutions, 5th Edition, will guide you step-by-step through every type of math problem you will encounter in your new career. * Each chapter is organized in sections for easy reference and self-paced learning. * Every question and example is worked out completely, step-by-step, so you're never confused about how to solve a problem. * Basic calculator keystrokes are included with examples so you can learn how to solve problems more quickly and easily with the help of a calculator. * The pretest and two posttests include solutions and are directly referenced to the exact chapter section where the material is found. You can see immediately by the problems you miss which sections need more review so you can save study time. |
Contents
Review of Basics | 1 |
11 Numbers and Digits | 2 |
13 Rounding Numbers | 4 |
14 Practice Problems | 6 |
Chapter 1 Answer Key | 8 |
Fractions Decimals Percent | 9 |
22 Fractions | 10 |
23 Changing Fractions | 11 |
511 VA Loans | 67 |
513 Mortgage Discount Points | 68 |
Discount Points | 69 |
515 Computing Transfer Taxes on Mortgages | 71 |
Transfer Taxes on Mortgages | 72 |
517 Computing Monthly Payments | 73 |
519 Mortgage Amortization | 74 |
520 Amortization over Extended Periods | 76 |
24 Reducing Fractions | 12 |
26 Adding and Subtracting Fractions | 14 |
28 Dividing Fractions | 16 |
29 Decimals | 17 |
211 Multiplying Decimals | 18 |
213 Changing a Fraction to a Decimal | 20 |
214 Changing a Decimal to a Fraction | 21 |
216 Changing a Percent to a Fraction or a Decimal | 22 |
217 Changing a Fraction or a Decimal to a Percent | 23 |
218 Percent in Problems | 24 |
Chapter 2 Answer Key | 27 |
Using Percent in Real Estate | 29 |
32 Percent and Percentage | 30 |
33 Use of the Memory Device | 31 |
34 Five Steps in Percent Problems | 35 |
35 Memory Device Practice Problems | 36 |
36 Calculating Commissions | 38 |
37 Practice Commission Problems | 39 |
Chapter 3 Answer Key and Solutions | 41 |
Legal Descriptions and Area Problems | 42 |
42 Recorded Plat of Subdivision | 43 |
44 Rectangular Survey System | 46 |
45 Calculating Number of Acres | 48 |
46 Converting Square Feet to Acres | 49 |
47 Practice Problems Converting Square Feet to Acres | 50 |
Key Terms | 52 |
49 Formulas To Use in Area Problems | 53 |
410 Formulas To Use in Cubic Measure Volume Problems | 56 |
411 Cost per Unit | 57 |
Chapter 4 Answer Key and Solutions | 58 |
Mortgage Math | 59 |
51 Calculating Interest | 60 |
53 Practice Interest Problems | 62 |
55 VA Minimum Down Payments | 63 |
57 Calculating Conventional Loan Down Payments | 64 |
59 FHA LoansRegular FHA 2O3b Program | 65 |
51O Practice Problems Calculating FHA Down Payments | 66 |
Chapter 5 Answer Key and Solutions | 78 |
Real Estate Taxes | 80 |
62 City and County Property Taxes | 82 |
63 Special Assessments | 83 |
64 Real Property Transfer Taxes | 84 |
66 Practice Problems Calculating State Transfer Taxes | 86 |
Chapter 6 Answer Key and Solutions | 88 |
Appraising and Investing Calculations | 89 |
71 Cost Approach | 90 |
Depreciation as a Percent | 91 |
Calculating Depreciation and Economic Life | 95 |
75 Income Capitalization Approach | 96 |
76 Sales Comparison Approach | 100 |
Estimating Site Value | 101 |
Gross Income Multiplier | 102 |
71O Estimating Income and Expenses | 104 |
711 Predicting Future Return Rates and Economic Ratios | 105 |
712 Practice Problems | 108 |
Chapter 7 Answer Key and Solutions | 109 |
Computations and Closing Statements | 111 |
30DayMonth Method | 112 |
365Day Method | 114 |
84 Prorating Property Insurance | 116 |
85 Prorating Property Taxes | 118 |
86 Prorating Rent | 119 |
87 Prorating Mortgage Interest | 120 |
88 Organizing the Information | 121 |
Work Organizer for Closing Statements | 124 |
Composite Closing Statement | 125 |
Chapter 8 Answer Key and Solutions | 126 |
Posttest | 129 |
Posttest One Answer Key and Solutions | 132 |
Posttest Two | 134 |
Posttest Two Answer Key and Solutions | 137 |
| 139 | |
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Common terms and phrases
12 months 40 acres accrued depreciation Amortization Answer Key appraised value arithmetic assessed value Base Calculate capitalization rate Chapter closing costs closing statement collection losses common denominator cost to reproduce credit buyer debit seller decimal fraction decimal number decimal point discount points documentary stamp tax Effective Gross Income estimated Example gross rent multiplier improper fraction interest rate Key and Solutions lender loan amount market value memory aid memory device Metes and Bounds mills mixed number monthly payment net operating income number of acres number of days operating expenses operating income paid place value potential gross income Practice Problems Problem 11 Problem 14 Problem 9 property taxes prorated purchase price ratio real estate Result Sales Comparison Approach sales price salesperson Section square feet Step subtract tax on deed tax rate taxable increments taxable value total sales commission Transfer Taxes vacancy and collection whole number x Rate
References to this book
The Real Estate Math Handbook: Simplified Solutions for the Real Estate Investor Jamaine Burrell No preview available - 2007 |