Real Estate Math
A buyer puts 5% down on a $240,000 home. How much is the down payment?
A$10,000
B$12,000✓ Correct
C$14,000
D$16,000
Explanation
Down payment = $240,000 × 5% = $12,000. To solve this, multiply the relevant values: $240,000 at 5%.. The correct answer is $12,000.. This is a common calculation on the Georgia real estate exam.
Related Georgia Real Estate Math Questions
- A property sells for $520,000. The seller pays a 5.5% commission. How much does the seller net before other closing costs?
- An agent earns a $12,000 commission and is on a 70/30 split with the broker. How much does the broker keep?
- A house rents for $1,800/month. Using a GRM of 130, what is the estimated value of the property?
- A 40-acre parcel sells for $3,200 per acre. What is the total sale price?
- A building costs $240,000 to reproduce new and has 20% accumulated depreciation. What is the depreciated value of the improvements?
- A property's assessed value is $200,000 with a homestead exemption of $10,000. The net taxable value is $190,000 and the mill rate is 40 mills. What are the annual taxes?
- A property is sold using a 1031 exchange. The relinquished property sold for $800,000 with a cost basis of $300,000. The replacement property costs $950,000. How much capital gain is deferred?
- An apartment building with 20 units was purchased for $2,400,000. At $1,800/unit/month average rent and 93% occupancy, what is the cap rate?
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →