Real Estate Math
A rectangular parcel is 330 feet by 660 feet. How many acres is this? (43,560 sq ft = 1 acre)
A3 acres
B4 acres
C5 acres✓ Correct
D6 acres
Explanation
Area = 330 × 660 = 217,800 sq ft. Acres = 217,800 ÷ 43,560 = 5 acres.
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Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
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