Real Estate Math
A 40-acre Indiana farm sells for $8,500 per acre. What is the total sale price?
A$320,000
B$340,000✓ Correct
C$360,000
D$400,000
Explanation
Sale price = 40 × $8,500 = $340,000. Using the values given ($8,500), apply the appropriate formula.. The correct answer is $340,000.. This is a common calculation on the Indiana real estate exam.
Related Indiana Real Estate Math Questions
- An Indiana property is assessed at $220,000. The homestead deduction reduces the assessed value by $45,000. The tax rate is 2.0%. What are the annual taxes after the homestead deduction?
- An Indiana mortgage has a $320,000 principal balance. The monthly payment is $1,900. In month 1, the interest portion (at 5.5% annual rate) is $1,466.67. What is the principal reduction in month 1?
- An Indiana seller's property is listed at $475,000. After negotiations, the buyer and seller agree on $455,000. What was the negotiated percentage below asking price?
- An Indiana home appreciates from $220,000 to $264,000 over 3 years. What is the average annual appreciation rate?
- An Indiana investor buys a 10-unit apartment for $1,200,000. Total annual rent is $108,000. What is the gross rent multiplier (annual)?
- An Indiana appraisal finds that the subject's bedroom count is one less than a comparable. The bedroom adjustment is $5,000. If the comparable sold for $248,000, what is the adjusted value?
- A seller nets $185,000 after paying a 6% commission. What was the selling price?
- A lot in Zionsville measures 1.5 acres. How many square feet is that?
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →