Real Estate Math
A Missouri lender quotes a 7.5% annual interest rate. A borrower has a $120,000 loan. What is the first month's interest payment?
A$750✓ Correct
B$900
C$1,000
D$812.50
Explanation
Monthly interest = $120,000 × 7.5% ÷ 12 = $120,000 × 0.
Related Missouri Real Estate Math Questions
- A Missouri buyer qualifies for a 5/1 ARM. The initial rate is 4.75% and increases 2% at first adjustment. The new rate is:
- A Missouri investor's 10-unit apartment building has average rent of $750/month per unit. Annual effective gross income with 8% vacancy is:
- A Missouri duplex rents for $1,100/month (unit A) and $950/month (unit B). Annual gross income is:
- A Missouri farm is 240 acres and sells for $3,200 per acre. The total sale price is:
- A Missouri property sells for $198,000. The buyer puts down 25% and finances the rest. The loan-to-value ratio is:
- A Missouri home appraised at $325,000 is sold. The 6% commission is split 60% listing / 40% selling. The selling agent gets 70% of their broker's share. How much does the selling agent earn?
- A Missouri property with an assessed value of $62,000 and a tax rate of $10.25 per $100 has annual taxes of:
- A Missouri property has a market value of $430,000. Commercial assessment is 32%. The assessed value is:
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →