Real Estate Math
An agent's commission is $12,600 on a sale at a 6% rate. What was the sale price?
A$190,000
B$200,000
C$210,000✓ Correct
D$220,000
Explanation
Sale Price = Commission ÷ Rate = $12,600 ÷ 0.06 = $210,000. To solve this, multiply the relevant values: $12,600 at 6%.. The correct answer is $210,000.. This is a common calculation on the Kentucky real estate exam.
Related Kentucky Real Estate Math Questions
- A Kentucky buyer takes an $180,000 conventional loan at 5.5% for 30 years. The monthly payment factor for this rate and term is approximately $5.68 per $1,000. What is the monthly P&I payment?
- A Kentucky home purchased for $150,000 is sold 5 years later for $195,000. What is the percentage increase in value?
- A Kentucky property appraiser uses the cost approach. The land value is $40,000 and the building replacement cost is $220,000. Physical depreciation is 15%. What is the indicated value?
- A borrower pays $3,600 in points on a $180,000 loan. How many points did they pay?
- A property has a net operating income (NOI) of $24,000 and a cap rate of 8%. What is the estimated value?
- A 60,000 sq ft parcel contains how many acres? (1 acre = 43,560 sq ft)
- An investment property has an NOI of $36,000 and sells for $450,000. What is the cap rate?
- A Kentucky duplex generates $1,100/month per unit. If the gross rent multiplier for the area is 140, what is the estimated value?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →