Real Estate Math

A rectangular lot measures 200 feet by 150 feet. What is the lot's area in acres? (1 acre = 43,560 sq ft)

A0.69 acres✓ Correct

B0.52 acres

C0.79 acres

D1.03 acres

Explanation

Area = 200 × 150 = 30,000 sq ft. Acres = 30,000 ÷ 43,560 ≈ 0.

The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.

A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.

The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.

A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.

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