Real Estate Math
A home was purchased 3 years ago for $320,000 and appreciated at 5% per year (compounded). What is its current value?
A$368,000
B$370,440✓ Correct
C$369,200
D$371,640
Explanation
Year 1: $320,000 × 1.05 = $336,000. Year 2: $336,000 × 1.05 = $352,800. Year 3: $352,800 × 1.05 = $370,440.
Related Arizona Real Estate Math Questions
- A home appreciated 8% from last year. If it is worth $378,000 today, what was it worth one year ago?
- A 6% commission is split 50/50 between the listing and selling brokers. The selling broker splits 70% with their salesperson. If the sale price is $460,000, how much does the selling salesperson receive?
- A property has a gross annual income of $120,000, a vacancy rate of 5%, and operating expenses of $40,000. What is the net operating income (NOI)?
- An Arizona buyer qualifies for a maximum loan with a payment factor of $7.69 per $1,000 at 8% for 30 years. If their maximum P&I payment is $1,846, what is their maximum loan?
- A property management company charges 8% of collected rents. If the monthly rent roll is $45,000, what is the monthly management fee?
- A buyer obtains a 90% LTV loan on a $380,000 property. What is the down payment?
- A lot measures 80 feet wide by 120 feet deep and sold for $7.50 per square foot. What was the sale price?
- A home sells for $425,000. The commission rate is 6%. How much is the total commission?
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →