Real Estate Math
An Alaska property has a loan balance of $180,000. Monthly principal and interest payment is $1,250. Of that, $900 is interest. How much is applied to principal reduction?
A$250
B$350✓ Correct
C$450
D$900
Explanation
Principal payment = Total payment − Interest portion. $1,250 − $900 = $350 applied to principal. Using the values given ($180,000, $1,250), apply the appropriate formula.. The correct answer is $350.. This is a common calculation on the Alaska real estate exam.
Related Alaska Real Estate Math Questions
- An Alaska mortgage has a balance of $165,000 at 5.25% annual interest. What is the interest charged in the next month?
- A property sells for $350,000. The buyer makes a 20% down payment. What is the loan amount?
- A rectangular lot measures 150 feet by 200 feet. How many acres is this lot? (1 acre = 43,560 sq ft)
- A commercial property in Anchorage sold for $1,200,000. The commission rate was 5%. The listing broker retained 60% and paid the buyer's broker 40%. How much did the buyer's broker receive?
- A property in Anchorage sells for $425,000. The commission rate is 5.5%. What is the total commission?
- A buyer pays $350,000 for an Alaska home that was listed at $375,000. The list-price-to-sale-price ratio is approximately:
- A buyer purchases a $260,000 Alaska home with an FHA loan at 3.5% down. The FHA upfront MIP is 1.75% of the loan amount. What is the upfront MIP?
- A parcel of land in Alaska is described as the S½ of the NW¼ of Section 12. How many acres does this parcel contain?
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →