Real Estate Math
A buyer makes a 15% down payment on a $320,000 home. What is the loan amount?
A$48,000
B$272,000✓ Correct
C$280,000
D$304,000
Explanation
Down payment = $320,000 × 15% = $48,000. Loan amount = $320,000 − $48,000 = $272,000. To solve this, multiply the relevant values: $320,000 at 15%.. The correct answer is $272,000.. This is a common calculation on the Indiana real estate exam.
Related Indiana Real Estate Math Questions
- A property has an assessed value of $180,000. The tax rate is $2.50 per $100 of assessed value. What is the annual property tax?
- A buyer's loan of $240,000 is amortized over 30 years at 6.5%. The monthly payment factor per $1,000 at that rate is $6.32. What is the monthly payment?
- A rectangular lot measures 150 feet by 200 feet. What is the area in acres? (1 acre = 43,560 sq ft)
- An Indiana home sells for $395,000. The listing broker splits the 5.4% commission equally with the buyer's broker. Each broker pays their agent 55%. How much does the listing agent earn?
- A Indiana residential lot has a frontage of 75 feet and a depth of 140 feet. It sells for $2.50 per square foot. What is the sale price?
- A property is purchased for $175,000 and sold 3 years later for $196,000. What is the total percentage appreciation?
- A seller wants to net $250,000 after paying a 6% commission. What must the property sell for (rounded to the nearest dollar)?
- An Indiana title company charges $3.50 per $1,000 of purchase price for an owner's title policy. What is the premium on a $385,000 purchase?
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →