Real Estate Math
A Mississippi property is worth $320,000. The owner wants to net $295,000 after paying a 5% commission. What minimum sale price is required?
A$310,526✓ Correct
B$309,000
C$311,000
D$312,000
Explanation
Minimum price = Net ÷ (1 − commission) = $295,000 ÷ 0.95 = $310,526.32. To solve this, multiply the relevant values: $320,000 and $295,000 at 5%.. The correct answer is $310,526.. This is a common calculation on the Mississippi real estate exam.
Related Mississippi Real Estate Math Questions
- A Mississippi agent earns 3% of the sales price on each transaction. In a year with 15 sales averaging $185,000, the agent's total commission earnings are:
- A Mississippi property management company charges 8% of collected rents. In January, 90% of the $25,000 in scheduled rents were collected. The management fee for January is:
- A Mississippi property is assessed at $160,000 and the tax rate is $22.50 per $1,000 of assessed value. What is the annual property tax?
- A Mississippi licensee earns a salary of $2,000 per month plus a 2% commission on sales. If the licensee's monthly sales total $300,000, what are their gross monthly earnings?
- A property has annual gross rents of $36,000, a vacancy rate of 5%, and operating expenses of $12,000. What is the net operating income (NOI)?
- A Mississippi property sells for $175,000. The listing broker's commission is 6%, split equally between listing and buyer's broker. How much does the listing broker receive?
- A home sold for $195,000. The listing broker and buyer's broker split the 6% commission equally. The listing agent receives 55% of the listing side commission. How much does the listing agent receive?
- A Mississippi investor purchases a rental property for $120,000. The annual gross rent is $14,400 and annual expenses are $5,400. The capitalization rate is approximately:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →