Real Estate Math
A loan of $200,000 at 6% annual interest is interest-only for the first year. What are the total interest payments in the first year?
A$10,000
B$12,000✓ Correct
C$14,400
D$24,000
Explanation
Annual interest = $200,000 × 6% = $12,000. Monthly = $1,000. Total first year = $12,000. To solve this, multiply the relevant values: $200,000 at 6%.. The correct answer is $12,000.. This is a common calculation on the Alaska real estate exam.
Related Alaska Real Estate Math Questions
- A house in Anchorage lists for $580,000 and sells for 102% of list price after multiple offers. What is the sale price?
- An Alaska investor purchases a fourplex for $600,000. Each unit rents for $1,200/month. The vacancy rate is 8% and annual operating expenses are $28,000. What is the NOI?
- A parcel of land in Alaska is described as the S½ of the NW¼ of Section 12. How many acres does this parcel contain?
- An Alaska property is listed for $420,000 and sells for 97% of the list price. What is the sale price?
- A property has a NOI of $45,000 and sells at a 7.5% cap rate. What is the sale price?
- A salesperson earned $9,600 in commission on a sale. The commission rate was 6% and the salesperson received 40% of the total commission. What was the sale price of the property?
- A listing agent and buyer's agent split a 6% commission equally on a $500,000 sale. Each brokerage then splits with its agent 60/40 (agent gets 60%). How much does the buyer's agent (salesperson) receive?
- An Alaska property generates annual gross rents of $72,000. The vacancy rate is 5% and operating expenses equal 40% of effective gross income. What is the NOI?
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →