Real Estate Math
A property appreciated 8% per year for 3 years. If the original value was $200,000, what is it now worth (compound appreciation)?
A$248,000
B$251,942
C$252,456✓ Correct
D$254,000
Explanation
Year 1: $200,000 × 1.08 = $216,000.
People Also Study
Related Delaware Questions
- A Delaware property owner wants to sell their home for a net of $200,000 after paying a 6% commission and $4,000 in closing costs. What must the minimum sale price be?Real Estate Math
- A Delaware seller nets $195,000 after paying off a $145,000 mortgage, a 5.5% commission on a sale price of $360,000, and $4,000 in other closing costs. Did the seller achieve this net?Real Estate Math
- A Delaware seller accepts $495,000. They owe $290,000 on their mortgage, pay a 5% commission, and have $6,500 in closing costs. What are the seller's net proceeds?Real Estate Math
- A Delaware seller received $442,000 net after paying 5.5% commission and $3,200 in closing costs. What was the sale price?Real Estate Math
- In Delaware, which type of listing agreement gives the broker an exclusive right to sell AND earn a commission even if the owner finds their own buyer?Contracts
- A Delaware homeowner sells their home for $425,000 after owning it for 5 years. Original purchase price was $330,000. Selling costs total $28,000. What is the net gain?Real Estate Math
- A Delaware buyer and seller enter a contract 'subject to attorney review.' During this period, the attorneys may:Contracts
- A Delaware homeowner who refinances their primary residence mortgage has a federally mandated right of rescission for how long?Finance
Key Terms to Know
Closing Costs
Fees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
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.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Math Concepts
Study This Topic
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →