Real Estate Math
A Kentucky home listed at $320,000 sells for 97% of list price. What is the sale price?
A$309,600
B$310,400✓ Correct
C$316,000
D$304,000
Explanation
Sale price = List price x Sale percentage. $320,000 x 97% = $320,000 x 0.
Related Kentucky Real Estate Math Questions
- A lot is 150 feet wide and 200 feet deep. How many square feet is the lot?
- A Kentucky property is purchased for $320,000. It is depreciated for tax purposes over 39 years (commercial). What is the annual depreciation allowance?
- A rectangular building is 40 feet by 60 feet. What is the square footage?
- A buyer in Kentucky puts 20% down on a $250,000 home. What is the loan amount?
- A property sells for $310,000. The county transfer tax is $0.50 per $500 of the sale price. What is the transfer tax?
- A buyer pays $2,250 in interest in the first month on their mortgage. What is the outstanding loan balance if the annual interest rate is 6%?
- A Kentucky buyer's monthly mortgage payment is $1,440. If the annual interest rate is 6% and the loan amount is $200,000, what portion of the first payment is principal?
- A Kentucky horse farm generates $250,000 annual gross income. Operating expenses are $140,000. At an 8% cap rate, what is the estimated market value?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →