Real Estate Math
A rectangular commercial lot in Lincoln, Nebraska measures 125 feet by 300 feet. What is the lot area in acres (1 acre = 43,560 sq ft)?
A0.86 acres✓ Correct
B0.92 acres
C0.75 acres
D1.05 acres
Explanation
Area = 125 × 300 = 37,500 sq ft. Acres = 37,500 ÷ 43,560 ≈ 0.
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Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
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