Real Estate Math
An Iowa property is listed at $149,900. It sells at 98% of list price. The commission is 6%. How much commission is paid?
A$8,814.12✓ Correct
B$8,994
C$8,820
D$9,000
Explanation
Sale price = $149,900 x 0.98 = $146,902.
Related Iowa Real Estate Math Questions
- An Iowa house sells for $245,000. The listing broker and buyer's broker each receive 3% of the sale price. The listing broker pays their salesperson 55% of the listing side commission. How much does the listing salesperson earn?
- An Iowa investor purchases a rental property for $275,000, puts 25% down, and finances the rest at 5.75% for 20 years. The monthly payment factor is $7.06 per $1,000. What is the monthly P&I?
- A home sells for $270,000, which is 108% of its assessed value. What is the assessed value?
- An Iowa home is priced at $315,000. The buyer receives a seller concession of 3% toward closing costs. What is the dollar amount of the concession?
- An Iowa farmland parcel is described as the NW1/4 of Section 12. How many acres does it contain?
- An Iowa home is listed for $299,500. After negotiations, the buyer and seller agree on a price 2% below list price. What is the agreed sale price?
- Monthly rent on an Iowa apartment is $950. A landlord collects first month's rent and 2 months' security deposit at lease signing. What is the total collected?
- A Des Moines investment property is purchased for $400,000 with a 25% down payment. The annual interest rate on the mortgage is 7%. What is the first year's interest expense (interest only)?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →